Expanding TALF To Include Newly Issued CMBS
Since March 17, the FRNBY, in conjunction with the U.S. Department of the Treasury (UST), has been providing nonrecourse, low-interest TALF loans to eligible borrowers in order to finance purchases by those borrowers of newly issued asset-backed securities (ABS) on a highly leveraged basis.
Prior to this development, those ABS only could be...
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