Rochester, NY 8/21/2009 9:40:08 AM
SPDR Dow Jones REIT RWR, U.S Economy save the Commercial Real Estate Market
SPDR Dow Jones REIT
Term Asset-Backed Securities Loan Facility TALF -loans have reduced borrowing costs in some markets. Since the program began in March, the gap, or spread, on top-rated securities backed by consumer loans relative to benchmark interest rates has fallen to 0.60 of a percentage point, and the spread on triple-A-rated debt backed by commercial real estate has dropped 7.2% to 4.6 percentage points more than U.S. Treasuries, according to Barclays Capital.
The extension by three to six months aimed more help for the credit markets and preventing battered sector from falling even further. However, many observers are skeptical that it will work.
The program has the potential to generate up to $1 trillion in lending to households and businesses by enabling investors to use program funds to buy new asset-backed securities backed by auto and student loans, credit cards, business equipment and loans guaranteed by the Small Business Administration, as well as commercial real estate debt.
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