The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
Regional & Community Outreach connects the Bank to Main Street via structured dialogues and two-way conversations on small business, mortgages, and household credit.
Economic Education improves public knowledge about the Federal Reserve System, monetary policy implementation, and promoting financial stability through the Museum and programs for K-16 students and educators, and the community.
The Federal Reserve created the Term Asset-Backed Securities Loan Facility (TALF), to help market participants meet the credit needs of households and small businesses by supporting the issuance of asset-backed securities (ABS) collateralized by auto loans, student loans, credit card loans, equipment loans, floorplan loans, insurance premium finance loans, loans guaranteed by the Small Business Administration, residential mortgage servicing advances, or commercial mortgage loans. Eligible borrowers must use a primary dealer, which will act as agent for the borrower, to access the TALF and must deliver eligible collateral to the New York Fed’s custodian bank.
The following operations announcement pertains to new issue and legacy commercial mortgage-backed securities:
July 16, 2009
July 24, 2009
3-Year Maturity Date:
July 24, 2012
5-Year Maturity Date:
July 24, 2014
July 16, 2009 1:00 p.m. ET
July 16, 2009 3:00 p.m. ET
20.00 basis points
3 or 5 years
Rates for July 16, 2009 Facility:
Fixed 3 year loan
Fixed 5 year loan
Amount of TALF loans requested at July 16, 2009 Facility: