Financial 411: TALF Town Hall

Alston & Bird hosts a monthly client seminar designed to provide current, relevant information about today’s legal issues.  In November, partners Paul Donohue, Gary Roth and Lloyd Winans led a discussion of "TALF Town Hall - What's on Your Mind?" 

• Was TALF necessary to stimulate the securitization market in November 2008, and has it improved and strengthened the securitization market?
• Who are the primary investors that have taken advantage of TALF Loans to fund ABS purchases; has TALF brought in “new blood” to purchase ABS?
• Are there asset classes that are currently not “TALF eligible” that should be (or should have been) added to the program?
• What would you change about TALF?
• How do you feel about providing the FRBNY with “Data” and authorizing the NRSROs to discuss their views of specific securities sponsors and issuers with the FRBNY?
• Does the timing of Data delivery work for issuers and sponsors? 
• Does the FRBNY’s Risk Assessment Program for new non-mortgage ABS provide any additional comfort to investors - additional to the ratings from the NRSRO’s?
• What is a more effective program for legacy securities, PPIP or TALF, or are both programs necessary?   
• Should TALF be extended beyond March 2010 for newly issued ABS and legacy CMBS; and June 2010 for newly issued CMBS?  If yes, for all ABS or only for some classes?
• If TALF is extended for newly issued CMBS can it effectively aid in the refinancing of the coming wave of maturing CMBS, which is estimated to be $33.6 billion next year and a total of $153 billion between now and 2012?

For more information or to be added to the Financial 411 mailing list, contact Pam Frye at or 704-444-1088.

November 19, 2009
4:00pm - 5:00pm
Alston & Bird LLP / 101 South Tryon Street / 37th Floor / Charlotte, NC