May 19, 2020
TALF 2020 and CLOs: Progress in the Right Direction, but Has Enough Changed?
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On May 12, 2020, the Federal Reserve Bank of New York announced the issuance of updated Terms and Conditions and a Frequently Asked Questions document (the “FAQs”) regarding the 2020 Term Asset-Backed Securities Loan Facility (“TALF 2020”). In this Legal Update, we discuss several aspects of the updated TALF 2020 documents with particular relevance to CLOs, including several welcome improvements and a few drawbacks.
For more information about the topics raised in this Legal Update, please contact Ryan Suda, J. Paul Forrester, Joanna C. Nicholas, Keith F. Oberkfell, Arthur S. Rublin or Sagi Tamir.
The post TALF 2020 and CLOs: Progress in the Right Direction, but Has Enough Changed? appeared first on Retained Interest.
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