Federal Reserve announced an expansion of Term Asset-Backed Securities Loan Facility (TALF 2.0) program to include outstanding non-agency CMBS AAAs and new issue CLO AAAs. The loans will have a three-year term, and are non-recourse to borrowers. Partial or full prepayment is allowed. The initial size of the loan facility will be $100 billion.
Download the full paper to find out who's eligible, what's the size of facility and hair cut, as well as the associated pricing and fees. You can also learn more about Yield Book.