What constitutes “reasonable care” on the part of a TALF Agent in confirming the accuracy of the representation as to eligibility of collateral for TALF loans?
The TALF Agent is expected to have reviewed the relevant offering materials (including the certifications contained therein) and, except in the case of SBA collateral (as defined in the MLSA), separately confirmed that the ratings currently applicable to the collateral meet the eligibility criteria.
Related Questions
- What constitutes "reasonable care" on the part of a primary dealer in confirming the accuracy of the representation as to eligibility of collateral for TALF loans?
- What constitutes "reasonable care" on the part of a TALF Agent in confirming the accuracy of the representation as to eligibility of collateral for TALF loans?
- Is there an agent that the New York Fed has selected to be collateral monitor for TALF as it relates to legacy CMBS?
