On March 13, the New York Federal Reserve Bank (NYFRB) announced that it will extend the window for the first subscriptions for funding from the Term Asset-Backed Securities Loan Facility (TALF) by two days. The extension was requested by market participants in order to allow more time for borrowers to complete the documentation associated with the initiation of the program. The window for receipt of requests for TALF loans has been extended to last from 10 a.m. ET on March 17 through 5 p.m. ET on March 19. Lending rates on TALF loans will be set on March 19 at 8 a.m. ET. The settlement date will remain March 25, and the dates for the April subscription and settlement remain unchanged.