Far West

WASHINGTON — As the House Friday approved the most sweeping financial regulatory reform legislation since the Depression, municipal issuers are debating the effectiveness of a little-noticed provision that would require rating agencies to rate municipal and other debt on the same scale and based on the likelihood of repayment to investors.

WASHINGTON — If Congress does not pass legislation boosting the federal debt limit by the end of the year, the Treasury Department could be forced to close its window for state and local government series securities, which municipal issuers purchase for refunding escrows to avoid earning arbitrage, market sources said yesterday.

WASHINGTON — The Securities and Exchange Commission has barred ex-Wachovia Securities LLC broker Guy P. Riordan from associating with any broker or dealer, and ordered him to pay a $500,000 penalty and to disgorge almost $938,354 in ill-gotten gains and interest for securities fraud violations stemming from a pay-to-play scheme involving the former treasurer of New Mexico.

SAN FRANCISCO — Oakland Mayor Ronald Dellums and civic boosters publicly unveiled three stadium sites they’ve been pitching to Major League Baseball in an attempt to keep the Oakland Athletics in California’s eighth-largest city.

SAN FRANCISCO — Moody’s Investors Service issued a three-notch downgrade to the credit enhancement programs of both the California Public Employees Retirement System and California State Teachers Retirement System.

WASHINGTON — The House is poised to approve a massive financial regulatory reform bill today, after considering a series of amendments late into last night.

SAN FRANCISCO — A special ­election Tuesday may hasten the end of Valley Health System’s two-year-old Chapter 9 bankruptcy case and lead to the ­redemption of the Southern California public hospital district’s outstanding tax-exempt bonds.

WASHINGTON — House Democrats plan to introduce and vote next week on a jobs bill, Speaker Nancy Pelosi said yesterday as the chamber voted 221 to 202 to approve a nearly half-trillion dollar appropriations bill with funding for high-speed rail.

WASHINGTON — The Municipal Securities Rulemaking Board yesterday announced 11 market participants that have joined its issuer and investor advisory groups for two-year terms that end Sept. 30, 2011.

SAN FRANCISCO — The San Diego City Council closed a projected $179 million budget deficit with layoffs of city employees and other measures.