Term Asset-Backed Securities Loan Facility: CMBS

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.

Operation Announcement
Subscription Date: May 19, 2010
Closing Date: May 27, 2010
3-Year Maturity Date: May 28, 2013
5-Year Maturity Date: May 27, 2015
Facility Open: May 19, 2010 9:00 a.m. ET
Facility Close: May 19, 2010 3:00 p.m. ET
Administrative Fee: 20.00 basis points
Eligible Collateral: CMBS1
Loan Term: 3 or 5 years

Rates for May 19, 2010 Facility:

Sector

Fixed 3 year loan

Fixed 5 year loan

Commercial Mortgage

2.5835

3.4155

Amount of TALF loans requested at May 19, 2010 Facilty:

Sector

Newly Issued Amount

Commercial Mortgage

$0

Amount of TALF loans settled for May 19, 2010 Facility:

Sector

Newly Issued Amount

Commercial Mortgage

$0

1As defined in the terms & conditions
Operation Announcement
Subscription Date: April 21, 2010
Closing Date: April 29, 2010
3-Year Maturity Date: April 29, 2013
5-Year Maturity Date: April 29, 2015
Facility Open: April 21, 2010 9:00 a.m. ET
Facility Close: April 21, 2010 3:00 p.m. ET
Administrative Fee: 20.00 basis points
Eligible Collateral: CMBS1
Loan Term: 3 or 5 years

Rates for April 21, 2010 Facility:

Sector

Fixed 3 year loan

Fixed 5 year loan

Commercial Mortgage

2.7840

3.7190

Amount of TALF loans requested at April 21, 2010 Facilty:

Sector

Newly Issued Amount

Commercial Mortgage

$0

Amount of TALF loans settled for April 21, 2010 Facility:

Sector

Newly Issued Amount

Commercial Mortgage

$0

1As defined in the terms & conditions
Operation Announcement
Subscription Date: March 19, 2010
Closing Date: March 29, 2010
3-Year Maturity Date: March 29, 2013
5-Year Maturity Date: March 30, 2015
Facility Open: March 19, 2010 8:00 a.m. ET
Facility Close: March 19, 2010 3:00 p.m. ET
Administrative Fee: 20.00 basis points
Eligible Collateral: CMBS1
Loan Term: 3 or 5 years

Rates for March 19, 2010 Facility:

Sector

Fixed 3 year loan

Fixed 5 year loan

Commercial Mortgage

2.7225

3.6305

Amount of TALF loans requested at March 19, 2010 Facilty:

Sector

Newly Issued Amount

Legacy Amount

Commercial Mortgage

$0

$1,259,670,126

Amount of TALF loans settled for March 19, 2010 Facility:

Sector

Newly Issued Amount

Legacy Amount

Commercial Mortgage

$0

$857,002,698

1As defined in the terms & conditions
Operation Announcement
Subscription Date: February 17, 2010
Closing Date: February 25, 2010
3-Year Maturity Date: February 25, 2013
5-Year Maturity Date: February 25, 2015
Facility Open: February 17, 2010 8:00 a.m. ET
Facility Close: February 17, 2010 3:00 p.m. ET
Administrative Fee: 20.00 basis points
Eligible Collateral: CMBS1
Loan Term: 3 or 5 years

Rates for February 17, 2010 Facility:

Sector

Fixed 3 year loan

Fixed 5 year loan

Commercial Mortgage

2.7435

3.6865

Amount of TALF loans requested at February 17, 2010 Facilty:

Sector

Newly Issued Amount

Legacy Amount

Commercial Mortgage

$0

$1,255,719,991

Amount of TALF loans settled for February 17, 2010 Facility:

Sector

Newly Issued Amount

Legacy Amount

Commercial Mortgage

$0

$1,133,023,281

1As defined in the terms & conditions
Operation Announcement
Subscription Date: January 20, 2010
Closing Date: January 28, 2010
3-Year Maturity Date: January 28, 2013
5-Year Maturity Date: January 28, 2015
Facility Open: January 20, 2010 8:00 a.m. ET
Facility Close: January 20, 2010 3:00 p.m. ET
Administrative Fee: 20.00 basis points
Eligible Collateral: CMBS1
Loan Term: 3 or 5 years
Rates for January 20, 2010 Facility:

Sector

Fixed 3 year loan

Fixed 5 year loan

Commercial Mortgage

2.7775

3.7285

Amount of TALF loans requested at January 20, 2010 Facilty:

Sector

Newly Issued Amount

Legacy Amount

Commercial Mortgage

$0

$1,453,433,253

Amount of TALF loans settled for January 20, 2010 Facility:

Sector

Newly Issued Amount

Legacy Amount

Commercial Mortgage

$0

$1,325,983,320

1As defined in the terms & conditions
Operation Announcement
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 for December 14, 2009 Facility:

Sector

Fixed 3 year loan

Fixed 5 year loan

Commercial Mortgage

2.7435

3.6241

Amount of TALF loans requested at December 14, 2009 Facilty:

Sector

Newly Issued Amount

Legacy Amount

Commercial Mortgage

$0

$1,324,853,713

Amount of TALF loans settled for December 14, 2009 Facility:

Sector

Newly Issued Amount

Legacy Amount

Commercial Mortgage

$0

$1,282,444,544

1As defined in the terms & conditions
Operation Announcement
Subscription Date: November 17, 2009
Closing Date: November 25, 2009
3-Year Maturity Date: November 26, 2012
5-Year Maturity Date: November 25, 2014
Facility Open: November 17, 2009 8:00 a.m. ET
Facility Close: November 17, 2009 3:00 p.m. ET
Administrative Fee: 20.00 basis points
Eligible Collateral: CMBS1
Loan Term: 3 or 5 years
Rates for November 17, 2009 Facility:

Sector

Fixed 3 year loan

Fixed 5 year loan

Commercial
Mortgage

2.7200

3.5427

Amount of TALF loans requested at November 17, 2009 Facilty:

Sector

Newly Issued
Amount

Legacy
Amount

Commercial
Mortgage

$72,248,215

$1,417,579,146

Amount of TALF loans settled for November 17, 2009 Facility:

Sector

Newly Issued
Amount

Legacy
Amount

Commercial
Mortgage

$72,248,483

$1,329,532,153

1As defined in the terms & conditions
Operation Announcement
Subscription Date: October 21, 2009
Closing Date: October 29, 2009
3-Year Maturity Date: October 29, 2012
5-Year Maturity Date: October 29, 2014
Facility Open: October 21, 2009 8:00 a.m. ET
Facility Close: October 21, 2009 3:00 p.m. ET
Administrative Fee: 20.00 basis points
Eligible Collateral: CMBS1
Loan Term: 3 or 5 years
Rates for October 21, 2009 Facility:

Sector

Fixed
3 year loan

Fixed
5 year loan

Commercial
Mortgage

2.8620

3.6400

Amount of TALF loans requested at October 21, 2009 Facilty:

Sector

Newly Issued
Amount

Legacy
Amount

Commercial
Mortgage

$0

$2,124,921,093

Amount of TALF loans settled for October 21, 2009 Facility:

Sector

Newly Issued
Amount

Legacy
Amount

Commercial
Mortgage

$0

$1,930,574,358

1As defined in the terms & conditions
Operation Announcement
Subscription Date: September 17, 2009
Closing Date: September 25 , 2009
3-Year Maturity Date: September 25, 2012
5-Year Maturity Date: September 25, 2014
Facility Open: September 17, 2009 8:00 a.m. ET
Facility Close: September 17, 2009 3:00 p.m. ET
Administrative Fee: 20.00 basis points
Eligible Collateral: CMBS1
Loan Term: 3 or 5 years
Rates for September 17, 2009 Facility:

Sector

Fixed 3 year loan

Fixed 5 year loan

Commercial Mortgage

2.9455

3.7958

Amount of TALF loans requested at September 17, 2009 Facility:

Sector

Newly Issued Amount

Legacy Amount

Commercial Mortgage

$0

$1,401,924,696

Amount of TALF loans settled for September 17, 2009 Facility:

Sector

Newly Issued Amount

Legacy Amount

Commercial Mortgage

$0

$1,351,097,649.54

1As defined in the terms & conditions
Operation Announcement
Subscription Date: August 20, 2009
Closing Date: August 28, 2009
3-Year Maturity Date: August 28, 2012
5-Year Maturity Date: August 28, 2014
Facility Open: August 20, 2009 8:00 a.m. ET
Facility Close: August 20, 2009 3:00 p.m. ET
Administrative Fee: 20.00 basis points
Eligible Collateral: CMBS1
Loan Term: 3 or 5 years
Rates for August 20, 2009 Facility:

Sector

Fixed 3 year loan

Fixed 5 year loan

Commercial Mortgage

3.0715

3.8718

Amount of TALF loans requested at August 20, 2009 Facility:

Sector

Newly Issued Amount

Legacy Amount

Commercial Mortgage

$0

$2,283,323,490.50

Amount of TALF loans settled for August 20, 2009 Facility:

Sector

Newly Issued Amount

Legacy Amount

Commercial Mortgage

$0

$2,148,314,045.09

1As defined in the terms & conditions
Operation Announcement
Subscription Date: July 16, 2009
Closing Date: July 24, 2009
3-Year Maturity Date: July 24, 2012
5-Year Maturity Date: July 24, 2014
Facility Open: July 16, 2009 1:00 p.m. ET
Facility Close: July 16, 2009 3:00 p.m. ET
Administrative Fee: 20.00 basis points
Eligible Collateral: CMBS1
Loan Term: 3 or 5 years
Rates for July 16, 2009 Facility:

Sector

Fixed 3 year loan

Fixed 5 year loan

Commercial Mortgage

3.0275

3.8735

Amount of TALF loans requested at July 16, 2009 Facility:

Sector

Newly Issued Amount

Legacy Amount

Commercial Mortgage

$0

$668,940,185.57

Amount of TALF loans settled for July 16, 2009 Facility:

Sector

Newly Issued Amount

Legacy Amount

Commercial Mortgage

$0

$635,848,559.06

1As defined in the terms & conditions
Operation Announcement
Subscription Date: June 16, 2009
Closing Date: June 24, 2009
3-Year Maturity Date: June 25, 2012
5-Year Maturity Date: June 24, 2014
Facility Open: June 16, 2009 1:00 p.m. ET
Facility Close: June 16, 2009 3:00 p.m. ET
Administrative Fee: 5.00 basis points
Eligible Collateral: CMBS1
Loan Term: 3 or 5 years

Rates for June 16, 2009 Facility:

Sector

Fixed 3 year loan
(Average Life, in years)

Fixed 5 year loan

<1

1-<2

>=2

Commercial Mortgage

N/A

N/A

3.2710

4.1300

Amount of TALF loans requested at June 16, 2009 Facility:

Sector

Amount

Commercial Mortgage

$0

1As defined in the terms & conditions
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