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Email As part of a number of liquidity measures announced in response to the COVID-19 pandemic, the Federal Reserve re-established the Term Asset-Backed Securities Loan Facility (“TALF”) on March 23, 2020. On April 9, 2020, the Federal Reserve released an updated term sheet that expanded the range of “eligible collateral” to include certain legacy commercial mortgage-backed securities and newly-issued, static collateralized loan obligations (“CLOs”) and clarified which businesses would qualify as “eligible borrowers.” https://www.cadwalader.com/resources/clients-friends-memos/covid-19-update-federal-reserve-provides-additional-guidance-on-inclusion-of-clos-in-new-talf-term-sheet-and-responses-to-frequently-asked-questions