Financial Stability Act Expanded to Include CMBS

It looks like the work the commercial real estate groups did has paid off. Square Feet has pointed out that the new Term Asset-Backed Securities Loan Facility has language in it explicitly including commercial mortgage-backed securities.

Expand Reach – Including Commercial Real Estate:

The Consumer & Business Lending Initiative will expand the initial reach of the Term Asset-Backed Securities Loan Facility to now include commercial mortgage-backed securities (CMBS). In addition, the Treasury will continue to consult with the Federal Reserve regarding possible further expansion of the TALF program to include other asset classes, such as non-Agency residential mortgage-backed securities (RMBS) and assets collateralized by corporate debt.

Financial Stability Act Fact Sheet Feb 10 2009

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