Patrick McGee

Issuers in four states have ­accounted for nearly half of the $164 billion of Build America Bonds issued since the ­program’s inception 19 months ago. Municipal market participants say the lopsided ­distribution should be a consideration for investors, but for others the unbalance has limited value in measuring the program’s success.

Ambac Assurance Corp. is close to reaching a settlement that would wipe away more than $500 million of exposure to revenue bonds issued by the Nevada Department of Business and Industry for the Las Vegas Monorail, according to its regulator Thursday.

Adam Bergonzi was named chief risk officer this week of National Public Finance Guarantee Corp., where he will oversee a half-trillion-dollar portfolio of insured municipal bonds.

The Municipal Bond Club of New York raised $3,500 for the East Harlem Tutorial Program at its second annual fundraiser on Nov. 4.

The role of bond insurance in the municipal market has evolved in the past few years from simple credit substitution to credit enhancement with a mix of functions, according to an analyst at Moody’s Investors Service.

Defunct bond insurer Syncora Guarantee Inc. reported positive net income for the first three quarters of the year, but said near-term insolvency is still a concern if its insured portfolio ­tumbles.

The looming expiration of the Build America Bonds program is anticipated to be a net negative for the municipal market, but at least one sector is looking towards Dec. 31 with glee: bond insurance.

The growing amount of cash that MBIA Inc. expects to see in the coming years from mortgage loan putbacks could boost the company’s balance sheet by billions of dollars, according to a third-quarter earnings conference call Wednesday. That could help restore its ratings so it could begin writing new insurance policies, but ongoing litigation contesting its 2009 ­restructuring continues to hurt the company’s outlook.

Insurance holding company MBIA Inc. on Tuesday reported a $213 million net loss to common shareholders in the third quarter.

Ambac Financial Group Inc. announced third-quarter net income Tuesday of $76.0 million, versus net income of $2.19 billion in the same quarter one year ago.

Despite waning demand for U.S. municipal bond insurance, a startup company believes there is value in exporting the credit enhancement model to the world’s emerging markets.

Ambac Financial Group announced late Monday it filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.

The credit rating agencies and regulators are to blame for the lack of competition in the bond insurance market — both have created an environment that makes it difficult for new capital to find its way into the business, an industry executive said Friday.

Bond insurance holding company Assured Guaranty Ltd. reported a 382% increase in third-quarter operating income Thursday, less than two weeks after being stripped of its triple-A rating.

Municipal bonds firmed up to six basis points in the belly of the yield curve Thursday, as tax-exempts continued to react to a Federal Reserve policy announcement a day earlier.

Municipal bonds firmed up to six basis points in the belly of the yield curve Thursday, as tax-exempts continued to react to a Federal Reserve policy announcement a day earlier.

NEW YORK – Municipal bonds firmed three to five basis points on the short-end of the curve in early afternoon trading, as tax-exempts react to yesterday’s FOMC policy announcement.

Secondary activity in the tax-exempt market was subdued Wednesday despite big movements among Treasuries before and after the Federal Open Market Committee’s afternoon monetary policy statement.

Secondary activity in the tax-exempt market was subdued Wednesday despite big movements among Treasuries before and after the Federal Open Market Committee’s afternoon monetary policy statement.

RBC Capital Markets plans to announce Wednesday that Francisco Gonzalez has joined its municipal finance group to focus on large issues.