Fed eases Talf stance for CMBS

Author: Nicholas Pettifer | Published: 6 Nov 2009

The Federal Reserve Bank of New York (NY Fed) is considering easing its stance on granting loans through the Term Asset-backed securities Loan Facility (Talf) for commercial mortgage-backed securities (CMBS).

The NY Fed is reviewing a $400 million application by Developers Diversified Realty and Goldman Sachs. If it decides to approve the transaction, it would be the first new CMBS issuance to tap Talf and other transactions would be likely to follow.

Talf was launched in March...