Far West

WASHINGTON — Securities and Exchange Commission chairman Mary Schapiro told lawmakers Wednesday that the agency is considering whether to exempt all muni issuers, not just states, counties and cities, from federal regulators' joint Volcker rule proposal.

Institutional investors generally trade at more favorable prices than individual muni investors in the secondary market, the Government Accountability Office said in a report sent Tuesday to key members of Congress.

Internal Revenue Service officials are taking a two-pronged approach to address concerns there may be ongoing mispricing of investments and bonds in the muni market.

A public pension disclosure project spearheaded by a bond attorneys' group is expected to reach a critical milestone when it should become clear whether a voluntary coalition of industry participants will reach consensus on the project or produce separate recommendations.

When broker-dealers give money to California school bond campaigns, it appears to be money well spent.

WASHINGTON — The White House is once again asking Congress to increase the federal borrowing limit by $1.2 trillion to avoid hitting the nation's debt ceiling, but the request is sure to trigger another battle on Capitol Hill and possibly threaten the availability of sales of state and local government series securities to municipal issuers.

WASHINGTON — Despite the financial struggles and criticism faced by prominent fast-rail projects in California and Florida, high-speed and regional rail is likely to proceed out of necessity, according to an analysis by Fitch Ratings.

SAN FRANCISCO — An Oregon panel that advises policymakers on debt said in a report Wednesday that the state's borrowing options will remain "highly constrained" in the near future.

State and local governments should not allow underwriters to pass through any fees they pay to finance the Governmental Accounting Standards Board, the Government Finance Officers Association warned members Thursday.

Selling $74.3 million of electric system revenue bonds for Vernon, the scandal-ridden California city that narrowly avoided being disincorporated last year, would seem to be an uphill battle.