On May 12th, the Federal Reserve released its revised TALF Term Sheet and, more importantly, its FAQs. The revised TALF works better for CLOs, but a number of hurdles remain.  We discuss both TALF’s improvements as well as its continuing challenges for CLOs.  Presented by Meredith Coffey, LSTA, Andrew Gordon, Octagon Credit Investors, Tom Majewski, Eagle Point Capital, Nicole Skalla, Paul Hastings and Lee Shaiman, LSTA.