Legacy CMBS TALF loan results for August, by type. (source: Barclays Capital) Barclays Urges Fed to Detail TALF Bid Acceptance Process

The Federal Reserve received $2.3bn of loan requests under the legacy commercial-backed security (CMBS)-eligible Term Asset-Backed Securities Loan Facility (TALF) in August, more than three times the subscriptions in July.

Uncertainty around the Fed’s methods for accepting and rejecting bids, however, may dampen interest going forward, according to a securitized research report by Barclays Capital.