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Primary Dealers Prepare TALF Participation Vehicles March 20, 2009

--Leela Parker

Primary dealers JPMorgan, Barclays Capital and Cantor Fitzgerald are considering setting up special purpose vehicles called participation trusts to help investors access the Term Asset-Backed Securities Loan Facility. One of the key benefits of the SPV is that it would provide access to TALF for non-levered investors, said a JPMorgan analyst. Other benefits include eliminating some of the operational, legal and administrative obstacles, thereby extending the facility¹s reach. ...

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