Fed Adopts Final Rule for Selecting NRSRO Participants in TALF Program
December 11, 2009
The Federal Reserve this week adopted a final rule which would establish a process for the Federal Reserve Bank of New York for determining the eligibility of credit-rating agencies to rate ABS under the Term ABS Loan Facility. Published in the Dec. 9 Federal Register, the final rule is essentially the same as the proposed rule published in October. TALF is a government...