Organization Root Tag

The agencies are overstepping their statutory authority in trying to force the market to adopt a new securities identifier, says the American Bankers Association.

Moodys says it is placing additional weight on the states' Aaa ratings in determining the Garvee ratings.

A report by the Securities Industry and Financial Markets Association shows that the move to a T+1 settlement cycle has struck the right balance between increasing efficiencies and mitigating risk.

The New York region's beleaguered transportation agency could need up to $92 billion for its next capital plan, said State Comptroller Thomas DiNapoli. 

The Federal Reserve's inspector general says the reserve bank CEO did not trade on confidential information or have conflicts of interest, but did violate central bank rules and policies.

The August consumer price index showed inflation remains above the Federal Reserve's target level and makes a 50-basis-point rate cut next week unlikely, economists said. Further, many expect the market will be disappointed going forward, as future cuts will likely be shallower than expected.

Fitch cited economic and demographic factors in explaining the downgrade.

The House Financial Services Committee held a hearing Tuesday examining the practices of proxy advisors and their relationship with ESG investing.

Robin Prunty, who retired Aug. 31 as S&P's chief analytical officer for governments, took on a role on its U.S. board the next day.

Fitch also upgraded the city's Georgia Municipal Association certificates of participation (city of Atlanta public safety projects) to AA-plus from AA.

Current Members Andrew Biggs and John Nixon will be reappointed for another three years.

Piper Sandler has hired Joe Kinder and Brent Blevins as managing directors on its public finance team. Both will focus on Missouri school districts and issuers.

Massachusetts drew multiple bidders for all four tranches when it sold $850 million of general obligation bonds competitively last week.

"The numbers are weak, but not cusp of recession weak," Chris Low, chief economist at FHN Financial, said.

PREPA and its creditors have 30 more days to negotiate a possible debt-cutting deal.

Chicago released a budget forecast that its corporate fund deficit will grow to $982.4 million in 2025 from $222.9 million at 2024's end.

"Employers were more selective with their hires and less likely to expand their workforces, citing concerns about demand and an uncertain economic outlook," the report said.

General fund revenue growth of only 1.1% in the fiscal year that ended Saturday, marks a continued slowdown since fiscal 2022's 26.4% increase.

LINXS, the private developer consortium, and Los Angeles World Airports struck an agreement on a timeline for completion of the people mover project, pushing Fitch Ratings' outlook higher.

The lawsuit contends a state law that punishes banks and others for "boycotting" the fossil fuel industry violates free speech provisions in the U.S. Constitution.