On April 21, the Federal Reserve Bank of New York released updated terms and revised documents, including a revised Master Loan and Security Agreement, regarding its Term Asset-Backed Securities Loan Facility (TALF). The changes include (i) the creation of two new interest rates applicable to TALF loans with weighted average lives to maturity of less than two years, (ii) clarifications regarding the effective dates for issuer assertions and auditor attestations, and (iii) a clarification that the phrase “U.S. domiciled obligor” includes persons domiciled in U.S. territories and possessions.  

Click here for information regarding the updated TALF terms and documents.