Far West

Moody's Investors Service downgraded $1.7 billion of San Jose Redevelopment Agency tax allocation bonds after falling property values cut into debt service coverage.

WASHINGTON — Key Republican lawmakers introduced a bill Friday to delay implementation of derivatives rules by regulators and require them to hold hearings about compliance costs and regulatory alternatives.

WASHINGTON — The Internal Revenue Service is auditing $228.1 million of “green” bonds issued in February 2007 by the Syracuse, N.Y., Industrial Development Agency to determine if they violated tax laws.

SAN FRANCISCO — Stone & Youngberg said it hired Doug Heske as managing director and branch manager of its San Francisco private-client group.

DENVER — Examiners for the Office of the Comptroller of the Currency are worried about concentrations of municipal bonds held by national banks, and have begun asking risk officers to evaluate their exposures, an OCC official said.

DENVER – Examiners for the Office of the Comptroller of the Currency are worried about concentrations of municipal bonds held by national banks, and have begun asking risk officers to evaluate their exposures, an OCC official said.

WASHINGTON — A House oversight committee hearing slated to examine state and municipal debt Thursday devolved into an extended debate about collective bargaining, featuring two sitting governors from opposite ends of the political spectrum.

WASHINGTON — The Financial Industry Regulatory Authority fined Jefferies & Co. $1.5 million for failing to disclose that it was earning additional compensation when selling new-issue, auction-rate securities to clients.

SAN FRANCISCO — California’s controller is pushing new legislation that would strengthen state oversight over local government finances and audits.

WASHINGTON — President Obama announced the framework of a plan Wednesday to shrink the deficit $4 trillion over 12 years, and urged House and Senate leaders to appoint teams to negotiate a final bipartisan plan by the end of June.