Washington DC

GASB is considering postponing the effective dates of eight statements and five implementation guides.

State Departments of Transportation said $50 billion would provide states the ability to meet existing debt obligations.

Public finance advocates are focused on the reinstatement of advance refunding and higher limits on bank-qualified issuance.

GASB will release on April 16 a list of delays to various initiatives because of the coronavirus pandemic.

BDA wants the he Fed to consider a standby, short-term lending facility for states and localities experiencing cash flow timing shortfalls.

Urban areas will get $22.7 billion in formula funds and $2.2 billion will go to rural areas.

Early official estimates of current fiscal year revenue drops include $353 million in Arkansas, $396 million in Colorado, $219 in Oklahoma and $224 million in Vermont.

Most of the disclosures tracked since the beginning of the year were filed in March, the MSRB said.

The package calls for reinstating advance refunding, Build America Bonds and tax credit bonds.

In a letter, three issuer groups made specific recommendations to the Federal Reserve and Treasury.

The CARES Act gives the Federal Reserve and Treasury up to 10 days to begin purchasing municipal securities in the secondary market.

So far there have been over 200 COVID-19-related disclosures, according to Diver by Lumesis, a financial technology company.

Of $10 billion allocated in the CARES Act, public airports can use $7.4 billion for any lawful purpose, including the payment of debt service.

NABL suggested that the federal government be allowed to purchase new issues of tax-exempt bonds.

The group is charged with advising MSRB board members on ways to improve EMMA.

Speaker Nancy Pelosi, D-Calif., said the next package will make up for shortcomings that haven’t been addressed such as the insufficient aid to state and local governments.

The longtime muni banker and former Treasury official adds serious muscle to the Fed's municipal securities expertise.

"Like all businesses, we are operating in a period of uncertainty which may last several months," Virgin Trains/Brightline President Patrick Goddard said.

Speaker Nancy Pelosi, D-Calif., pledged Thursday the massive spending bill would pass on a voice vote even though some objections were expected during a Friday morning vote.

Morgan Stanley, Ameritas Investment Company LLC and a former Stifel broker agreed this week to pay the fines for violating multiple muni securities rules.