Federal Reserve Bank of New York

NY Fed Announces New CMBS Counterparties for 13(3) Facilities

 

On September 9, the Federal Reserve Bank of New York announced the first wave of new counterparties selected as part of the expansion program announced earlier in September. Widening the eligibility criteria for agency CMBS counterparties is intended to increase the operational capacity and reach of agency CMBS purchases. Two firms were selected to support the Commercial Paper Funding Facility (CPFF). Seven additional firms were selected to support the Secondary Market Corporate Credit Facility (SMCCF). The application process is open and ongoing and the New York Fed has announced its intention to name additional counterparties and agents, as applicable, for the CPFF, SMCCF and Term Asset-Backed Securities Loan Facility in the coming weeks. Release.

Federal Reserve Bank of New York Announces First Subscription Date for New Loan Facility

 

On May 20, the Federal Reserve Bank of New York announced the first loan subscription date for the Term Asset-Backed Securities Loan Facility (TALF). The TALF was established to increase availability of credit and support consumers and businesses by assisting the issuance of asset-backed securities. Borrowers may request one or more three-year TALF loans on the monthly scheduled loan subscription date, beginning with the upcoming first loan subscription date of June 17. Release.