Northeast

New York City Mayor Bill de Blasio and the City Council agreed on a $75 billion budget proposal, up 7% from last year.

The Securities and Exchange Commission has charged a Philadelphia-area private equity firm with violating pay-to-play rules by receiving advisory fees from the city and state pension funds following campaign contributions an associate made to state and local officials. It is the first case brought by the SEC under its pay-to-play rules for investment advisers.

Massachusetts plans to kick off a five-year asset-liability management program with a $500 million sale of SIFMA index bonds.

The board of New Jersey's biggest pension fund voted Wednesday to sue New Jersey Gov. Chris Christie over reduced contributions to the state's pensions.

Standard & Poor's removed Rhode Island from credit watch negative after state lawmakers approved a $12.3 million 38 Studios bond payment.

Paying the moral obligation debt the state guaranteed for the failed 38 Studios will strengthen Rhode Island's image in the capital markets, Gov. Lincoln Chafee said in an interview.

Standard & Poor's raised its various ratings on New York's MTA, including an elevation of its transportation revenue bonds to AA-minus from A-plus.

The New York City Municipal Water Finance Authority intends to sell roughly $200 million of second resolution, fixed-rate tax-exempt bonds on June 25

Nixon Peabody hired Vincent Casey from Orrick, Herrington & Sutcliffe as part of a buildout in project finance and public-private partnerships.

Rhode Island's Senate sent an $8.7 billion budget to Gov. Lincoln Chafee, who said he would sign the plan, which includes a payment on bonds the state agreed to back for the failed 38 Studios firm.