A welcome easing of Talf

Author: | Published: 1 Dec 2009
Talf could inject confidence back into the CMBS market

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 and extended to include CMBS in June, but the NY Fed has held high standards. Ideally...