Items Tagged with 'Backed Securities Loan Facility'

ARTICLES

  • The Commercial Real Estate Pretend and Extend Strategy Continues

    In a speech on the Federal Reserve exit strategy to the House of Representatives Committee on Financial Services, chairman Ben Bernanke noted that the government-led credit provision, the Term Asset-Backed Securities Loan Facility (TALF) is reaching its end this month. The exception to this deadline, however is newly issued commercial mortgage-backed securities (CMBS), and loans backed by newly issued CMBS. These will get an extra three months.
    Read More
  • Legacy CMBS-Eligible TALF Bids Soar, New Issue Stays Quiet

    Investors put in bids for $2.28bn in loans to purchase so-called "legacy" commercial mortgage-backed securities (CMBS) on Thursday. The bids, made through the Federal Reserve's Term Asset-Backed Securities Loan Facility for CMBS, came in at 340% of the $668.94m of bids in the July 16th facility. Thursday's legacy CMBS-eligible TALF facility bears rates of 3.03% on fixed 3-year loans and 3.9% on fixed 5-year loans. The facility closes August 28. The new issue CMBS-eligible TALF facility garnered no bids Thursday, marking the second new issue facility to pass without bids.
    Read More
  • Congress Urges Broader TALF Timeline for CMBS

    Rep. Paul Kanjorski, D-Pa., and Rep. Gary Miller, R-Calif., issued a letter Friday to Treasury Department secretary Tim Geithner and Federal Reserve chairman Ben Bernanke, urging an extension of the Term Asset-Backed Securities Loan Facility (TALF) for commercial mortgage-backed securities (CMBS) through next year.
    Read More
  • Fed Tweaks Liquidity Programs, Buys $24bn of MBS

    The Federal Reserve on Thursday shuffled some details around certain liquidity programs, extending the deadlines for a number of facilities through early 2010 in an effort to "promote financial stability and support the flow of credit to households and businesses" as the extent of the contraction continues to unwind.
    Read More
  • TALF Expands to Include Legacy CMBS

    As of July, certain high-quality commercial mortgage-backed securities (CMBS) issued before January 1, 2009 will be eligible collateral under the Term Asset-Backed Securities Loan Facility (TALF), the Federal Reserve Board said today. The TALF program is aimed at stimulating lending by allowing private investors to purchase securities with a matching government investment.
    Read More
  • Here Comes the Commercial Bailout

    After months of watching from the sidelines, there are two newcomers to the Term Asset-Backed Securities Loan Facility (TALF) playground. The Federal Reserve on Friday announced commercial mortgage-backed securities (CMBS) and securities backed by insurance premium finance loans as of June are eligible collateral for TALF participation. The additions are aimed at stimulating lending in the commercial real estate and small business sector by allowing private investors to purchase securities with a matching government investment.
    Read More
  • Fed May Expand TALF Terms

    The Federal Reserve may soon make 5-year loans available to commercial mortgage-backed security investors under the Term Asset-Backed Securities Loan Facility (TALF), in an effort to stimulate the real estate market. At least one ratings firm, however, has raised concern lately over a deteriorating CMBS market.
    Read More