The Federal Bank of New York said on its website that investors requested $2.1 billion in loans in the October round of its Term Asset-Backed Securities Loan Facility (TALF).
Loan requests under TALF, were up from the $1.4 billion of loan requests under the Legacy CMBS TALF program in September.
No new loans were requested under the Fed's new issue CMBS TALF program.
Researchers at Barclays Capital said earlier this month in a research report that they expected the October facility date for a government loan program to receive an uptick of requests over the last subscription date.
“This is the highest percentage of TALF-able bid list activity yet,” researchers wrote. “We expect an uptick in loan requests versus last month’s $1.4billion; our preliminary estimate is for around $2billion in TALF loans requests in October.”