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The New York Innovation Center bridges the worlds of finance, technology, and innovation and generates insights into high-value central bank-related opportunities.
Do you have a request for information and records? Learn how to submit it.
Learn about the history of the New York Fed and central banking in the United States through articles, speeches, photos and video.
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The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
Need to file a report with the New York Fed? Here are all of the forms, instructions and other information related to regulatory and statistical reporting in one spot.
The New York Fed works to protect consumers as well as provides information and resources on how to avoid and report specific scams.
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The New York Innovation Center bridges the worlds of finance, technology, and innovation and generates insights into high-value central bank-related opportunities.
The growing role of nonbank financial institutions, or NBFIs, in U.S. financial markets is a transformational trend with implications for monetary policy and financial stability.
The New York Fed offers the Central Banking Seminar and several specialized courses for central bankers and financial supervisors.
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We are connecting emerging solutions with funding in three areas—health, household financial stability, and climate—to improve life for underserved communities. Learn more by reading our strategy.
The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality.
The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
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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 TALF Agent, 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: |
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Operation Announcement
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| Subscription Date: | December 14, 2009 | |
| Closing Date: | December 22, 2009 | |
| 3-Year Maturity Date: | December 24, 2012 | |
| 5-Year Maturity Date: | December 22, 2014 | |
| Facility Open: | December 14, 2009 8:00 a.m. ET | |
| Facility Close: | December 14, 2009 3:00 p.m. ET | |
| Administrative Fee: | 20.00 basis points | |
| Eligible Collateral: | CMBS1 | |
| Loan Term: | 3 or 5 years | |
| Rates will be set at 12:00 p.m. ET on December 11, 2009 | |||||||||
| Haircuts for New Issue CMBS and Base Dollar Haircuts for Legacy CMBS: |
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| For newly issued CMBS with average lives beyond five years, collateral haircuts will increase by one percentage point for each additional year (or portion thereof) of average life beyond five years. For legacy CMBS with average lives beyond five years, base dollar haircuts will increase by one percentage point of par for each additional year (or portion thereof) of average life beyond five years. No CMBS may have an average life beyond ten years. | |||||||||
| Rates: | |||||||||
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| 1As defined in the terms & conditions | |||||||||
| Recent Operations ›› | |||||||||
