MSRB Unveils Economic Event Calendar on EMMA
The Municipal Securities Rulemaking Board announced on Monday that its EMMA system now includes an economic calendar that gives visitors free access to dates and descriptions of upcoming macroeconomic developments that could impact the municipal market.  more »
"From an issuer's perspective, it could be the most informative tool we have added to EMMA in recent years," said MSRB executive director Lynnette Kelly about the economic calendar.
President Obama signed the Puerto Rico relief bill Thursday, paving the way for the appointment of an oversight board and the first steps in what legislators and observers agree will be a long process of bolstering the commonwealth’s fiscal health. more »
The Senate is poised to pass the Puerto Rico rescue bill after clearing what many say was the final hurdle for the legislation on Wednesday morning, invoking cloture by a vote of 68 to 32. more »
Senate Majority Leader Mitch McConnell late Monday filed for cloture on the Puerto Rico rescue bill currently waiting for Senate consideration, setting up a procedural vote for as soon as Wednesday morning. more »
Treasury Secretary Jack Lew added to the pressure for quick passage of a Puerto Rico rescue bill in a letter to the Senate leadership on Monday, even as some public finance professionals maintain the bill is unnecessary and could be harmful for the commonwealth. more »
Rep. Randy Hultgren, R-Ill., plans to introduce legislation during the week of June 27 to clarify that the Securities and Exchange Commission’s Municipal Advisor Rule does not require municipal issuers to hire municipal advisors in order to issue bonds. more »
Dealer groups are urging the Municipal Securities Rulemaking Board to cut in half a proposed requirement that would mandate municipal securities transactions to be closed out within 20 days of settlement. more »
Ohio filed the first offering document for a potential new type of municipal fund security based on tax-advantaged savings accounts that help support individuals with disabilities, the Municipal Securities Rulemaking Board announced Tuesday. more »
The Securities and Exchange Commission has settled with a former Chicago charter school operator over charges that he negligently approved and signed a misleading official statement for a $37.5 million bond offering to build three charter schools. more »
As we await the final shoe to drop with regard to the SEC's MCDC initiative, the municipal market may be at a turning point in terms of disclosure. more »
Richards, Merrill & Peterson has agreed to pay a $45,000 penalty for trading below the minimum denomination and North Star Investment Services will pay $15,000 for municipal trade reporting failures under settlements with the Financial Industry Regulatory Authority. more »
The Securities and Exchange Commission is considering whether to require state and local governments to disclose bank loans and private placements, according to people familiar with the matter, reflecting bondholders' concerns about the fast-growing segment of municipal finance. more »
The Municipal Securities Rulemaking Board is asking the Securities and Exchange Commission to approve a revised content outline for its permanent municipal advisor qualification exam that covers newly approved advisor rules. more »
The Securities Industry and Financial Markets Association is urging states to adopt policies that ensure issuers meet their disclosure requirements and provide investors with relevant information. more »

Carl Weisbrod, Director of the New York City Department of City Planning, joins Bond Buyer Senior Markets Reporter Chip Barnett to talk about the surge in NYC’s population and corresponding employment growth and why economic growth is dependent upon affordable housing for workers.

Municipalities buy insurance to obtain a higher credit rating for a bond issue and a commensurately lower borrowing cost. The savings arise from a lower coupon or, if the coupon is fixed, a higher price. But how can municipalities make sure that bond insurance makes economic sense for them? The answer is to pay close attention to the costs and benefits.

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