Organization Root Tag

A taxable bond issue will raise $3.4 billion for extraordinary costs incurred by natural gas utilities during deadly Winter Storm Uri that hit Texas in 2021.

The White House says the president will nominate Michael Barr, a Treasury Department veteran and one of the architects of the Dodd-Frank Act, as the central bank's vice chair for supervision.

New York’s $220 billion fiscal 2023 budget focuses on environmental and social issues while staying in balance with federal aid and projection-beating revenue.

The state’s personal income tax revenue and sales tax revenue bonds were also lifted from Aa2. Related credits were also upgraded. The rating outlook is stable.

The underwriters filed a defense to the court earlier this month and analysts are skeptical of MBIA’s chances of prevailing.

Using a surplus to build reserve levels was key for the outlook change, the rating agency said.

With the Federal Reserve planning aggressive rate hikes and balance sheet reduction, Dec Mullarkey, managing director of investment strategy and asset allocation at SLC Management, discusses the Federal Open Market Committee meeting minutes, his analysis of the economy and what to expect going forward. Gary Siegel hosts. (33 minutes)

A blackout that affected almost all of Puerto Rico Wednesday still had more than half of Puerto Rico Electric Power Agency customers without electricity Friday.

The budget includes a $600 million commitment from the state to subsidize a new stadium for the National Football League’s Buffalo Bills.

Senate Majority Leader Chuck Schumer took a procedural step before the Senate leaves for a two-week break seeking to limit debate on Lael Brainard’s nomination for vice chair, as well as Lisa Cook’s nomination for Fed governor when lawmakers return. 

Investors pulled more from municipal bond mutual funds in the latest week, with Refinitiv Lipper reporting $3.247 billion of outflows, of that $1 billion was high-yield. ETFs are still seeing inflows.

Oregon Treasurer Tobias Read called off a lottery bond sale planned in 2020 after lottery revenues cratered because of pandemic-related business closures.

Investors pulled more from municipal bond mutual funds as the Investment Company Institute reported $4.5 billion of outflows in the week ending March 30.

The Economic Development Bank estimated the first half of fiscal 2022 had experienced a 5.5% increase in growth, upward from a 3.6% increase in previous estimates.

At least 80% of the fund has to be “ESG leaders,” or issuers that have shown leadership in terms of environmental and social stewardship within their communities relative to their peers and that sector.

By dampening corporate interest in tax incentives, the new global minimum tax would hurt low-income housing and drive up issuer borrowing costs, a group of 29 organizations said in the letter to Yellen.

Details on how officials expect to proceed are expected to be revealed on Wednesday when the Fed publishes minutes of its March 15-16 meeting.

The Securities and Exchange Commission has sustained the Financial Industry Regulatory Authority’s disciplinary action against J.W. Korth & Company.

Senate Banking Chairman Sherrod Brown said he and Majority Leader Chuck Schumer are pushing to confirm all four Federal Reserve nominees this week, but doing so will require Republican cooperation.

SIFMA CEO Ken Bentsen and Head of Municipals Leslie Norwood discuss developments at the organization, the legislative outlook, and regulatory developments related to ESG. Kyle Glazier hosts. (28 minutes)