What kind of assurance will be required from the sponsor’s accountants that a newly issued CMBS is TALF eligible?
The New York Fed will require the sponsor of a newly issued CMBS to hire a nationally recognized certified public accounting firm that is registered with the Public Company Accounting Oversight Board to provide assurance indicating that a newly issued CMBS is TALF eligible. The form and level of assurance to be required are currently under review. Sponsors intending to participate in the June subscription can contact FRBNY Compliance via e-mail at talf.compliance@ny.frb.org for additional information.
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