The Federal Reserve Bank of New York (FRBNY) and the U.S. Treasury initially rolled out the Term Asset-Backed Securities Loan Facility (TALF) program to revive the asset-backed securities (ABS) market, but other sectors are also benefitting from the program, particularly commercial mortgage-backed securities (CMBS), Standard & Poor’s says.

S&P’s latest Quarterly TALF Report (Premium) discusses how the program has played an important role in improving market sentiment toward CMBS and putting the CMBS market on the road to recovery.