WASHINGTON — House Financial Services chairman Rep. Barney Frank, D-Mass., said he is “skeptical” about Securities and Exchange Commission chairman Christopher Cox’s proposals to boost disclosure and accounting standards for municipal market participants.

Speaking to reporters at an hour-long press conference yesterday on his committee’s agenda for the coming year, Frank said general obligation debt backed by the full faith and credit of states and localities is “very safe,” suggesting there is no need for federal lawmakers to impose additional regulatory burdens on sovereign state and local entities.

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