WASHINGTON — Local housing finance agencies have asked the Treasury Department to push back the Dec. 31 deadline for converting short-term taxable bonds to long-term, tax-exempt, fixed-rate bonds under its New Issue Bond Purchase program, warning they will have trouble meeting it.

They made the request during the National Association of Local Housing Finance Agencies’ Washington policy conference held here last week. Local HFA officials asked Michael Barr, the Treasury’s assistant secretary for financial institutions, if the department could extend the deadline by six to 12 months, to ensure it is used to its fullest potential, according to John Murphy, NALHFA’s executive director.

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.