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ARTICLE · 12 MARCH 2009

Further TALF Clarification

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On Tuesday, March 11, 2009, the Federal Reserve Bank of New York released a revised set of frequently-asked-questions (“FAQs”) related to the Term Asset-Backed Securities Loan Facility (“TALF”).

United StatesFinance and Banking
Proskauer'S Crisis Response Practice Group
Proskauer'S Crisis Response Practice Group
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On Tuesday, March 11, 2009, the Federal Reserve Bank of New York released a revised set of frequently-asked-questions ("FAQs") related to the Term Asset-Backed Securities Loan Facility ("TALF"). The revisions provide additional clarity for the Federal Reserve's funding commitment, a description of attestation requirements for SBA 7(a) and 504 programs, refined definitions of prime and subprime as it relates to automobile asset backed securities ("ABS") and information on the regulatory capital requirements for securities financed by a TALF loan.

For our prior TALF Client Alerts, please click here for the Further TALF Developments and click here for the Fed Unveils New TALF Proposals To Jumpstart Synchronization.

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