The Federal Reserve Bank of New York (FRBNY) recently posted on its website a revised version of the Master Loan and Security Agreement (MLSA) for the Term Asset-Backed Securities Loan Facility (TALF), a lending program launched by the Federal Reserve Board in March 2009 and supported in part by an agreement of the Treasury Department to provide certain credit protection to the FRBNY. The MLSA expands on certain of the terms set forth in the FRBNY’s Terms and Conditions and Frequently Asked Questions relating to the TALF and contains specific provisions governing borrowers’ obligations in respect of TALF loans.
Reprinted with permission from the December 2009 issue of Real Estate Finance.
