"When FINRA and MSRB rules which cover similar functions differ in their application, it raises compliance costs for dealers and raises the risk of inadvertent noncompliance," the Bond Dealers of America said in its letter.
The latest research from The Bond Buyer predicts supply and issuance volume will grow in the months ahead.
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"There's a tremendous amount of teamwork, both within an organization and then among all of the working group members," Eileen Heitzler said. "And the end result is a project with a public purpose."
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As bond counsel, Walsh has financed health care and affordable care facilities, continuing care retirement communities, charter schools and many other nonprofit organizations.
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The finance team burned the midnight oil to assemble and market one of the most complex deals in the municipal market this year.
With an insolvent Highway Trust Fund, toll revenue and PABs are increasingly important for transportation financing, lobbyists said.
Pennsylvania fuel consumption has been gradually declining, Fitch analysts wrote, straining the security for the turnpike's oil franchise tax revenue bonds.
Pennsylvania fuel consumption has been gradually declining, Fitch analysts wrote, straining the security for the turnpike's oil franchise tax revenue bonds.
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The finance team burned the midnight oil to assemble and market one of the most complex deals in the municipal market this year.
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The projects funded by the deal align with the city of Alexandria's goal to reduce community-wide greenhouse gas emissions 50% by 2030.
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The $4.5 billion of New York Transportation Development Corp. bonds sold for the P3 won the Northeast category of The Bond Buyer's 2024 Deal of the Year awards.
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ON-DEMAND VIDEOKC Mathews, executive vice president and chief market strategist at Commerce Trust breaks down the FOMC meeting.
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ON-DEMAND VIDEOPamela Frederick and Adam Barsky will share their views on the importance of the tax-exemption, how it benefits state and local governments, taxpayers, and U.S. retail investors -- and keeps the country competitive on a global scale.
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ON-DEMAND VIDEOGary Hall, President of the Infrastructure & Public Finance Division at Siebert Williams Shank & Co., joins Bond Buyer Executive Editor Lynne Funk to talk about the importance of the muni industry in financing the country's extensive infrastructure needs -- from ports and airports to bridges and energy solutions.
If the MSRB pursues a pre-trade transparency initiative—though its necessity is debatable given the private sector has already addressed this need—it should leverage existing tools and services used by market participants.
Issuers routinely refund 5% bonds in year 10, and the resulting savings can be significant. It is notable that although refunding is typically associated with declining interest rates, 5% bonds are refunded even if rates rise.
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New research from The Bond Buyer finds the federal policy environment once again threatens the tax-exempt status for municipal bonds.
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"MSRB's strategic plan was shaped by the many conversations we've had with stakeholders from across the municipal securities market," MSRB CEO Mark Kim said.
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Senior bonds most recently traded for 30 cents on the dollar.
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"Regulatory change in this area is needed without further delay," SIFMA said in a letter.
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Months after the state cracked down on cities' tardy annual financial audits, adherence to a statutory filing deadline is improving with fiscal 2025 reports.
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