TALF interest rates are not competitive with private market

09/30/2009 | Wall Street Journal, The

Bonds financed and refinanced under the Federal Reserve's Term Asset-Backed Securities Loan Facility might be costlier. The owners of 100 Park Ave. in New York City refinanced the $175 million mortgage on the building for $215 million at an interest rate of 6.64%. The building's owners estimated the rate would have been closer to 7% if they had opted to refinance under TALF.

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