WASHINGTON – With state and local governments increasingly using direct borrowing and direct placements instead of issuing bonds in public offerings, the Government Accounting Standards Board is wading in to provide some guidance on disclosures in their financial statements.

GASB released its exposure draft on Wednesday requiring governments to disclose information about these kinds of debt in the notes to their financial statements.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.