Commercial MBS Sector Catches a Break in TALF Program That’s Beginning to Gather Momentum
May 15, 2009
The New York Federal Reserve Bank’s decision to include commercial MBS as eligible collateral in its Term ABS Loan Facility provided a glimmer of hope to the moribund CMBS sector. Meanwhile, market acceptance of the program continued to grow as the third round of TALF requests yielded $10.6 billion in business, up sharply from prior offerings that netted only $4.7 billion in March and...