CMBS investors received $1.35 billion in loans from the Federal Reserve via the Term Asset-Backed Securities Loan Facility (TALF), according to reports released Monday.
Investors got less than the $1.4 billion that they asked for to buy existing CMBS.
The Fed previously stated it wil be using its discretion to award these loans requests, and not all securities that satisfy its terms can qualify for the loan.
This is the fourth round for this type of CMBS under the part of TALF that allows investors to buy existing securities and new securities.
However, to date, no new securities have been sold under the program.
