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The Municipal Securities Rulemaking Board filed amendments to its Rule G-23 with the Securities and Exchange Commission on Wednesday that would prohibit dealer-financial advisers from switching roles and becoming underwriters in the same municipal securities transactions.
February 9 -
WASHINGTON — Officials in the Obama administration on Tuesday announced plans to spend $53 billion over six years to finance the construction of a national high-speed rail and intercity passenger rail network.
February 8 -
ALAMEDA, Calif. — The Seattle City Council Monday ratified agreements designed to smooth the path toward construction of a tunnel to replace the elevated Alaskan Way viaduct along the city’s waterfront.
February 8 - Washington
WASHINGTON — On the eve of congressional hearings examining whether unfunded pension liabilities could trigger severe fiscal stress for state and local governments, a coalition of 10 groups representing state and local entities said public pensions are not in crisis and are not seeking federal assistance.
February 8 - Washington
WASHINGTON — The Depository Trust Co. has changed the way it processes principal and interest payments for municipal and other securities, triggering revised procedures or challenges for some rating agencies, trustees and issuers.
February 8 - Washington
WASHINGTON — The top Democrat on a House panel that plans to hold a hearing Wednesday on “State and Municipal Debt: The Coming Crisis,” believes states and localities need to reform their pension systems, but is uncertain about whether states in severe fiscal distress should be permitted to file for bankruptcy protection.
February 7 -
WASHINGTON — The House Financial Services Committee plans to examine state and local government budget shortfalls and the possibility of bond defaults in the municipal market, according to a 22-page draft of its oversight plans for the 112th Congress that chairman Rep. Spencer Bachus, R-Ala., has circulated among Republican panel members.
February 4 -
ALAMEDA, Calif. — Most holders of $451.5 million of first-tier revenue bonds issued for the Las Vegas Monorail are prepared to accept $111 million up front and release Ambac Assurance Corp. from its exposure to the defaulted bonds, the bond trustee said in a disclosure filing.
February 4
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Five days before a House panel is set to hold a hearing — “State and Municipal Debt: the Coming Crisis?” — governors are insisting that municipal securities are among the safest investments and that states are keenly aware of the need to repay their obligations.
February 4 - Oregon
SAN FRANCISCO — Oregon’s treasurer has proposed $280 million in debt capacity for the next two-year budget to help finance economic development projects.
February 4
