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Clayton described the Secured Overnight Financing Rate known as SOFR, as “a good risk free benchmark.”

Cross, who served as associate tax legislative counsel at the Office of Tax Policy until Friday, said that he resigned in order to be closer to family.

If the proposal is approved, the timing of issuers' annual financial disclosures would be prominently displayed as soon as the beginning of 2020.

Major banks accused of manipulating the variable-rate market are seeking to get the court to toss out the second amended whistleblower complaint filed by municipal advisor Johan Rosenberg.

Iowa accounted for $16 million of the approximately $36.1 million in aggie bonds issued in 2017, according to a recent survey by the Council of Development Finance Agencies.

The changes will slim down underwriters' disclosures to issuers, which many believed had become too lengthy and wordy to be useful.

The number of trades decreased about 16% to 2.01 million from the same quarter in 2018.

Data on default rates shows that while there has been improvement in consistency between corporate and muni ratings, there is still work to be done.

California, Massachusetts and New York came closest to utilizing their volume caps for PABs in 2018, according to a recent survey by the Council of Development Finance Agencies.

“We see some calming of seas,” said Beth Ann Bovino, chief U.S. economist and managing director at S&P Global Ratings, who offered those explanations as part of her latest take on the U.S. economic outlook.

The SEC brought four civil lawsuits and 10 stand-alone administrative proceedings, according to its annual report released Wednesday.

The Financial Industry Regulatory announced the action Wednesday, saying it stemmed from the firms' supervisory failures.

The number of letter rulings fell to four in 2018 when the fee rose to $28,300, from 16 rulings in 2008 when the fee was only $11,500.

At an SEC Fixed Income Market Structure Committee meeting on Monday, participants suggested giving out awards to incentivize issuers to submit timely financial information.

The federal government has been operating on a stopgap budget since the Oct. 1 start of the fiscal year but President Trump has declined to give any assurance he will agree to another one past Nov. 21.

As the House of Representatives votes to approve next steps in President Donald Trump's impeachment inquiry, the muni market considers the possible impact.

Muni bankruptcy expert James Spiotto told lawmakers that replacing debt restructuring with debt cancellation has no rationale or justification.

The committee's discussion will begin with a municipal issuers’ structured disclosures discussion, featuring issuers, regulators, and others.

Dealer groups believe that some sections of the proposed amended guidance such as complex financing and disclosure standards would add complexity to the rule.

Although the funding would not directly fund capital projects that are financed by bond issuances, the money would provide a new level of assurance for port authorities that projects which are fundamental to their continued operation will be completed expeditiously.