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As of December 31, 2020, the TALF has closed for new loan extensions. The materials and information on the webpages associated with this facility will remain available.
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Eligible and Ineligible ABS
Collateral Eligibility Determinations
The TALF ABS Eligibility Determination below provides a list of ABS that the New York Fed has determined to be TALF-eligible and those ABS that Borrowers proposed as eligible but the New York Fed has determined to be ineligible, reflecting all such determinations made since the launch of the TALF program up to the present date.
Eligibility determinations reflect the most recent consideration of the security, and are as of the date indicated and do not guarantee that ABS will remain eligible or be accepted for future loan requests. As noted in the TALF FAQs, the New York Fed retains the right to reject any ABS as TALF collateral, and loan requests may also be rejected for a number of reasons not having to do with the eligibility of the proposed collateral.
Eligibility determinations have been made for ABS pledged as part of a loan request, as well as based on information submitted by an issuer and its accounting firm unconnected to a specific loan request.
Past TALF-eligibility determinations can be viewed via the Eligible and Ineligible ABS by Subscription Date* link, which provides a running list of eligibility determinations by subscription date.
*The data is in .xlsx format
TALF Interest Rates
| Sector | Subsector | Fixed 3yr loan (Avg Life, in years) <2
>=2 |
Floating | |
| Auto | 2-year OIS rate + 125 bps |
3-year OIS rate + 125 bps |
N/A | |
| Commercial Mortgage | 2-year OIS rate + 125 bps |
3-year OIS rate + 125 bps |
N/A | |
| Credit Card | 2-year OIS rate + 125 bps |
3-year OIS rate + 125 bps |
N/A | |
| Equipment | 2-year OIS rate + 125 bps |
3-year OIS rate + 125 bps |
N/A | |
| Floorplan | 2-year OIS rate + 125 bps |
3-year OIS rate + 125 bps |
N/A | |
| Leveraged Loan | N/A | N/A | 30-day average SOFR + 150 bps | |
| Premium Finance | 2-year OIS rate + 125 bps |
3-year OIS rate + 125 bps |
N/A | |
| Small Business | SBA 7(a) loans | N/A | N/A | Top of Fed Funds Range + 75 bps |
| Small Business | SBA 504 loans | 3-year OIS rate + 75 bps |
3-year OIS rate + 75 bps |
N/A |
| Student Loan | Private | 2-year OIS rate + 125 bps |
3-year OIS rate + 125 bps |
N/A |
Operation
| Subscription Date: | December 10, 2020 |
| Closing Date: | December 21, 2020 |
| 3-Year Maturity Date: | December 21, 2023 |
| Facility Open: | 9:00 a.m. ET |
| Facility Close: | 1:30 p.m. ET |
| Administrative Fee: | 10.00 basis points |
Loan Rate Benchmark for the December 10, 2020 Subscription:
| Loan Rate Benchmark | All-in Rate(%) |
|---|---|
| 30-day SOFR Average | 1.58 |
| Top of the Fed Funds Target Range | 1.00 |
| 2-year OIS | 1.35 |
| 3-year OIS | 1.38 |
| 3-year OIS (SBA 504 loans) | 0.88 |
TALF loan rates are published by the New York Fed solely to inform market participants about the rates that will be applied to TALF loans for various types of ABS proposed as collateral on a given subscription date. The rates are not intended to be a measure of market conditions and should not be used as benchmark rates for other transactions.
TALF loans requested for the December 10, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $0 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $152,000,000 |
| Premium Finance | $0 |
| Small Business | $65,732,774 |
| Student Loan | $0 |
| Total | $217,732,774 |
TALF loans settled for the December 10, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $0 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $152,000,000 |
| Premium Finance | $0 |
| Small Business | $46,036,379 |
| Student Loan | $0 |
| Total | $198,036,379 |
Previous Subscriptions
Operation
| Subscription Date: | November 24, 2020 |
| Closing Date: | December 7, 2020 |
| 3-Year Maturity Date: | December 7, 2023 |
| Facility Open: | 9:00 a.m. ET |
| Facility Close: | 1:30 p.m. ET |
| Administrative Fee: | 10.00 basis points |
Loan Rate Benchmark for the November 24, 2020 Subscription:
| Loan Rate Benchmark | All-in Rate(%) |
|---|---|
| 30-day SOFR Average | 1.59 |
| Top of the Fed Funds Target Range | 1.00 |
| 2-year OIS | 1.33 |
| 3-year OIS | 1.36 |
| 3-year OIS (SBA 504 loans) | 0.86 |
TALF loan rates are published by the New York Fed solely to inform market participants about the rates that will be applied to TALF loans for various types of ABS proposed as collateral on a given subscription date. The rates are not intended to be a measure of market conditions and should not be used as benchmark rates for other transactions.
TALF loans requested for the November 24, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $0 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $344,507,179 |
| Student Loan | $0 |
| Total | $344,507,179 |
TALF loans settled for the November 24, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $0 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $344,474,724 |
| Student Loan | $0 |
| Total | $344,474,724 |
Operation
| Subscription Date: | November 5, 2020 |
| Closing Date: | November 17, 2020 |
| 3-Year Maturity Date: | November 17, 2023 |
| Facility Open: | 9:00 a.m. ET |
| Facility Close: | 1:30 p.m. ET |
| Administrative Fee: | 10.00 basis points |
Loan Rate Benchmark for the November 5, 2020 Subscription:
| Loan Rate Benchmark | All-in Rate(%) |
|---|---|
| 30-day SOFR Average | 1.59 |
| Top of the Fed Funds Target Range | 1.00 |
| 2-year OIS | 1.30 |
| 3-year OIS | 1.31 |
| 3-year OIS (SBA 504 loans) | 0.81 |
TALF loan rates are published by the New York Fed solely to inform market participants about the rates that will be applied to TALF loans for various types of ABS proposed as collateral on a given subscription date. The rates are not intended to be a measure of market conditions and should not be used as benchmark rates for other transactions.
TALF loans requested for the November 5, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $0 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $0 |
| Student Loan | $25,932,117 |
| Total | $25,932,117 |
TALF loans settled for the November 5, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $0 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $0 |
| Student Loan | $25,932,117 |
| Total | $25,932,117 |
Operation
| Subscription Date: | October 21, 2020 |
| Closing Date: | October 30, 2020 |
| 3-Year Maturity Date: | October 30, 2023 |
| Facility Open: | 9:00 a.m. ET |
| Facility Close: | 1:30 p.m. ET |
| Administrative Fee: | 10.00 basis points |
Loan Rate Benchmark for the October 21, 2020 Subscription:
| Loan Rate Benchmark | All-in Rate(%) |
|---|---|
| 30-day SOFR Average | 1.59 |
| Top of the Fed Funds Target Range | 1.00 |
| 2-year OIS | 1.30 |
| 3-year OIS | 1.32 |
| 3-year OIS (SBA 504 loans) | 0.82 |
TALF loan rates are published by the New York Fed solely to inform market participants about the rates that will be applied to TALF loans for various types of ABS proposed as collateral on a given subscription date. The rates are not intended to be a measure of market conditions and should not be used as benchmark rates for other transactions.
TALF loans requested for the October 21, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $46,342,100 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $327,600,000 |
| Premium Finance | $0 |
| Small Business | $219,968,056 |
| Student Loan | $0 |
| Total | $593,910,156 |
TALF loans settled for the October 21, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $46,342,100 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $327,600,000 |
| Premium Finance | $0 |
| Small Business | $219,968,056 |
| Student Loan | $0 |
| Total | $593,910,156 |
Operation
| Subscription Date: | October 6, 2020 |
| Closing Date: | October 16, 2020 |
| 3-Year Maturity Date: | October 16, 2023 |
| Facility Open: | 9:00 a.m. ET |
| Facility Close: | 1:30 p.m. ET |
| Administrative Fee: | 10.00 basis points |
Loan Rate Benchmark for the October 6, 2020 Subscription:
| Loan Rate Benchmark | All-in Rate(%) |
|---|---|
| 30-day SOFR Average | 1.59 |
| Top of the Fed Funds Target Range | 1.00 |
| 2-year OIS | 1.30 |
| 3-year OIS | 1.31 |
| 3-year OIS (SBA 504 loans) | 0.81 |
TALF loan rates are published by the New York Fed solely to inform market participants about the rates that will be applied to TALF loans for various types of ABS proposed as collateral on a given subscription date. The rates are not intended to be a measure of market conditions and should not be used as benchmark rates for other transactions.
TALF loans requested for the October 6, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $31,703,442 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $162,038,151 |
| Student Loan | $0 |
| Total | $193,741,593 |
TALF loans settled for the October 6, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $9,112,500 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $35,788,151 |
| Student Loan | $0 |
| Total | $44,900,651 |
Operation
| Subscription Date: | September 18, 2020 |
| Closing Date: | September 29, 2020 |
| 3-Year Maturity Date: | September 29, 2023 |
| Facility Open: | 9:00 a.m. ET |
| Facility Close: | 2:00 p.m. ET |
| Administrative Fee: | 10.00 basis points |
Loan Rate Benchmark for the September 18, 2020 Subscription:
| Loan Rate Benchmark | All-in Rate(%) |
|---|---|
| 30-day SOFR Average | 1.58 |
| Top of the Fed Funds Target Range | 1.00 |
| 2-year OIS | 1.28 |
| 3-year OIS | 1.28 |
| 3-year OIS (SBA 504 loans) | 0.78 |
TALF loan rates are published by the New York Fed solely to inform market participants about the rates that will be applied to TALF loans for various types of ABS proposed as collateral on a given subscription date. The rates are not intended to be a measure of market conditions and should not be used as benchmark rates for other transactions.
TALF loans requested for the September 18, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $19,847,500 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $290,338,409 |
| Student Loan | $0 |
| Total | $310,185,909 |
TALF loans settled for the September 18, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $19,847,500 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $290,338,409 |
| Student Loan | $0 |
| Total | $310,185,909 |
Operation
| Subscription Date: | September 3, 2020 |
| Closing Date: | September 16, 2020 |
| 3-Year Maturity Date: | September 18, 2023 |
| Facility Open: | 9:00 a.m. ET |
| Facility Close: | 2:00 p.m. ET |
| Administrative Fee: | 10.00 basis points |
Loan Rate Benchmark for the September 3, 2020 Subscription:
| Loan Rate Benchmark | All-in Rate(%) |
|---|---|
| 30-day SOFR Average | 1.58 |
| Top of the Fed Funds Target Range | 1.00 |
| 2-year OIS | 1.28 |
| 3-year OIS | 1.28 |
| 3-year OIS (SBA 504 loans) | 0.78 |
TALF loan rates are published by the New York Fed solely to inform market participants about the rates that will be applied to TALF loans for various types of ABS proposed as collateral on a given subscription date. The rates are not intended to be a measure of market conditions and should not be used as benchmark rates for other transactions.
TALF loans requested for the September 3, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $111,725,750 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $160,809,382 |
| Student Loan | $10,175,008 |
| Total | $282,710,140 |
TALF loans settled for the September 3, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $111,725,750 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $160,809,382 |
| Student Loan | $10,175,008 |
| Total | $282,710,140 |
Operation
| Subscription Date: | August 19, 2020 |
| Closing Date: | August 28, 2020 |
| 3-Year Maturity Date: | August 28, 2023 |
| Facility Open: | 9:00 a.m. ET |
| Facility Close: | 2:00 p.m. ET |
| Administrative Fee: | 10.00 basis points |
Loan Rate Benchmark for the August 19, 2020 Subscription:
| Loan Rate Benchmark | All-in Rate(%) |
|---|---|
| 30-day SOFR Average | 1.60 |
| Top of the Fed Funds Target Range | 1.00 |
| 2-year OIS | 1.28 |
| 3-year OIS | 1.28 |
| 3-year OIS (SBA 504 loans) | 0.78 |
TALF loan rates are published by the New York Fed solely to inform market participants about the rates that will be applied to TALF loans for various types of ABS proposed as collateral on a given subscription date. The rates are not intended to be a measure of market conditions and should not be used as benchmark rates for other transactions.
TALF loans requested for the August 19, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $169,149,302 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $213,890,187 |
| Student Loan | $0 |
| Total | $383,039,489 |
TALF loans settled for the August 19, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $169,149,302 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $213,856,554 |
| Student Loan | $0 |
| Total | $383,005,856 |
Operation
| Subscription Date: | August 4, 2020 |
| Closing Date: | August 13, 2020 |
| 3-Year Maturity Date: | August 14, 2023 |
| Facility Open: | 9:00 a.m. ET |
| Facility Close: | 2:00 p.m. ET |
| Administrative Fee: | 10.00 basis points |
Loan Rate Benchmark for the August 4, 2020 Subscription:
| Loan Rate Benchmark | All-in Rate(%) |
|---|---|
| 30-day SOFR Average | 1.61 |
| Top of the Fed Funds Target Range | 1.00 |
| 2-year OIS | 1.25 |
| 3-year OIS | 1.24 |
| 3-year OIS (SBA 504 loans) | 0.74 |
TALF loan rates are published by the New York Fed solely to inform market participants about the rates that will be applied to TALF loans for various types of ABS proposed as collateral on a given subscription date. The rates are not intended to be a measure of market conditions and should not be used as benchmark rates for other transactions.
TALF loans requested for the August 4, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $113,106,400 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $486,898,441 |
| Student Loan | $46,276,043 |
| Total | $646,280,884 |
TALF loans settled for the August 4, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $113,106,400 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $486,898,441 |
| Student Loan | $46,066,800 |
| Total | $646,071,641 |
Operation
| Subscription Date: | July 21, 2020 |
| Closing Date: | July 30, 2020 |
| 3-Year Maturity Date: | July 31, 2023 |
| Facility Open: | 9:00 a.m. ET |
| Facility Close: | 2:00 p.m. ET |
| Administrative Fee: | 10.00 basis points |
Loan Rate Benchmark for the July 21, 2020 Subscription:
| Loan Rate Benchmark | All-in Rate(%) |
|---|---|
| 30-day SOFR Average | 1.60 |
| Top of the Fed Funds Target Range | 1.00 |
| 2-year OIS | 1.25 |
| 3-year OIS | 1.26 |
| 3-year OIS (SBA 504 loans) | 0.76 |
TALF loan rates are published by the New York Fed solely to inform market participants about the rates that will be applied to TALF loans for various types of ABS proposed as collateral on a given subscription date. The rates are not intended to be a measure of market conditions and should not be used as benchmark rates for other transactions.
TALF loans requested for the July 21, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $330,785,740 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $453,246,359 |
| Student Loan | $199,645,693 |
| Total | $983,677,792 |
TALF loans settled for the July 21, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $330,785,740 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $0 |
| Small Business | $152,629,169 |
| Student Loan | $199,190,656 |
| Total | $682,605,565 |
Operation
| Subscription Date: | July 6, 2020 |
| Closing Date: | July 15, 2020 |
| 3-Year Maturity Date: | July 17, 2023 |
| Facility Open: | 9:00 a.m. ET |
| Facility Close: | 2:00 p.m. ET |
| Administrative Fee: | 10.00 basis points |
Loan Rate Benchmark for the July 6, 2020 Subscription:
| Loan Rate Benchmark | All-in Rate(%) |
|---|---|
| 30-day SOFR Average | 1.58 |
| Top of the Fed Funds Target Range | 1.00 |
| 2-year OIS | 1.25 |
| 3-year OIS | 1.25 |
| 3-year OIS (SBA 504 loans) | 0.75 |
TALF loan rates are published by the New York Fed solely to inform market participants about the rates that will be applied to TALF loans for various types of ABS proposed as collateral on a given subscription date. The rates are not intended to be a measure of market conditions and should not be used as benchmark rates for other transactions.
TALF loans requested for the July 6, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $223,820,194 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $51,142,943 |
| Small Business | $440,400,661 |
| Student Loan | $7,791,950 |
| Total | $723,155,749 |
TALF loans settled for the July 6, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $212,851,077 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $51,142,614 |
| Small Business | $412,938,944 |
| Student Loan | $7,791,950 |
| Total | $684,724,584 |
Operation
| Subscription Date: | June 17, 2020 |
| Closing Date: | June 25, 2020 |
| 3-Year Maturity Date: | June 26, 2023 |
| Facility Open: | 8:00 a.m. ET |
| Facility Close: | 3:00 p.m. ET |
| Administrative Fee: | 10.00 basis points |
Loan Rate Benchmark for the June 17, 2020 Subscription:
| Loan Rate Benchmark | All-in Rate(%) |
|---|---|
| 30-day SOFR Average | 1.56 |
| Top of the Fed Funds Target Range | 1.00 |
| 2-year OIS | 1.29 |
| 3-year OIS | 1.30 |
| 3-year OIS (SBA 504 loans) | 0.80 |
TALF loan rates are published by the New York Fed solely to inform market participants about the rates that will be applied to TALF loans for various types of ABS proposed as collateral on a given subscription date. The rates are not intended to be a measure of market conditions and should not be used as benchmark rates for other transactions.
TALF loans requested for the June 17, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $145,213,948 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $55,792,506 |
| Small Business | $51,150,000 |
| Student Loan | $0 |
| Total | $252,156,454 |
TALF loans settled for the June 17, 2020 Subscription:
| Sector | Amount |
| Auto | $0 |
| Commercial Mortgage | $145,213,948 |
| Credit Card | $0 |
| Equipment | $0 |
| Floorplan | $0 |
| Leveraged Loan | $0 |
| Premium Finance | $55,791,942 |
| Small Business | $51,150,000 |
| Student Loan | $0 |
| Total | $252,155,890 |
