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
Talf was launched in March...