Emergency lending program extended through June 30 for new commercial mortgage-backed securities, March 31 for those previously issued.

(Source: Reuters)

The Federal Reserve said Monday it was extending to mid-2010 an emergency program aimed at boosting lending in the ailing commercial real estate market.

In a joint announcement with the Treasury Department, the Fed said it would extend its Term Asset-Backed Securities Loan Facility (TALF) to June 30 for newly issued commercial mortgage-backed securities.

The Fed and the Treasury also extended TALF through March 31 for newly issued asset-backed securities (ABS) and already-issued, or “legacy,” commercial mortgage-backed securities (CMBS).

Both parts of the program were due to expire Dec. 31.

Read the full article “Real estate lifeline extended through mid-2010” in CNN Money (August 17, 2009).

Developments featured in this article

More Like This

Facebook Chatter