17th Jun 2009 09:00
17 June, 2009 Daily Mail and General Trust plc ('DMGT') Trepp selected by Federal Reserve Bank of New York as acollateral monitor for TALF
DMGT announces that Trepp LLC, part of DMG Information, its Business information division, has been selected by the Federal Reserve Bank of New York as a collateral monitor for CMBS as part of the "Term Asset-Backed Securities Loan Facility" (TALF).
The TALF is designed to increase credit availability and support economic activity in part by facilitating renewed issuance of consumer and business asset-backed securities (ABS) and CMBS. Trepp is an established provider of information and analytic services to the CMBS and commercial mortgage finance industries. As a collateral monitor for the newly issued and legacy CMBS assets, Trepp will assist the New York Fed by providing valuation, modelling, analytics and reporting, as well as advising on these matters.
Trepp will not establish policies or make decisions for the New York Fed, including decisions whether to reject a CMBS as collateral for a TALF loan or exclude loans from mortgage pools. Trepp will utilize the analytics and forecasting services of its subcontractor and sister company, Boston-based Property and Portfolio Research (PPR). Trepp was awarded the contract after a competitive bidding process.
"We are honoured to have been selected by the Federal Reserve Bank of New York to support TALF," said Annemarie DiCola, Trepp's Chief Executive Officer. "This contract recognizes Trepp's ability to provide in-depth information and analysis on CMBS. As Collateral Monitor, we look forward to working closely with the Federal Reserve Bank of New York to facilitate the success of TALF."
Enquiries: Peter Williams, Finance Director - DMGT 020 7938 6631
Andrew Honnor- Tulchan Communications 020 7353 4200
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