City of New York, NY

A heavier calendar still will not fulfill the $20 billion-plus of December redemptions. Muni/UST 10-year ratios fell to 74% as the UST 10-year came closer to 1.00%.

Uncertainties loom as Mayor Bill de Blasio’s budget team scrambles to craft the balanced fiscal 2022 spending plan he must reveal by late January.

He was remembered for an evenhanded persona amid a tumultuous term from 1990 to 1993.

New York's mayor says the budget for the 2021 fiscal year is balanced despite the coronavirus impacts.

MTA officials revealed dark budget-and-service cut scenarios and Mayor Bill de Blasio closed in-person public schools, actions likely to ripple through the city's economy.

Comptroller Stringer said Mayor de Blasio can present his updated Financial Plan with a path to a balanced budget for fiscal 2022 without cuts to essential services, layoffs of city workers, or borrowing to support operating expenses.

Neal Zuckerman, a New York MTA board member, tells The Bond Buyer's Paul Burton how takeaways from that era relate to today's transit funding crisis. "History doesn't repeat itself, but it rhymes." (24 minutes). Recorded Oct. 30.

The comptroller said the Taxi Workers Alliance proposal puts a floor under loan losses by guaranteeing city purchase of any defaulted medallions.

The move would not resolve structural budget gaps, according to the rating agency.

Virus effects have battered New York City’s economy and by extension, the city’s budget and credit standing.

The comptroller report said New York City's reserves mitigate the need for bond financing to fund operations as the city has more in reserve funds than pre-Great Recession and Sept. 11-related recession figures.

The transit agency — its revenues battered, its credit standing weakened and with no federal rescue aid in sight — looks to borrow its remaining $2.9 billion available through the Municipal Liquidity Facility.

The two-notch lowering to A-minus precedes the transit agency's planned $258 million negotiated sale of transportation revenue refunding green bonds.

New York's mayor is shifting $466 million to the current fiscal year’s capital budget to tackle affordable housing needs to offset some of his coronavirus-related cuts.

The securities industry was buoyed by federal stimulus and a massive influx of liquidity, report says.

Finance commissioner Jacques Jiha will succeed Hartzog, Mayor Bill de Blasio announced.

Manhattan Institute recommendations include paring back “unusually generous” benefits and transitioning new employees toward a defined-contribution system.

New York MTA inspector general rails at lax contractor evaluations

Annual debt service could spike to $4 billion by 2024, or up 55% since 2019, making up 24% of the agency's total revenues, Thomas DiNapoli said.

Adam Andrzejewski, CEO of OpenTheBooks.com, cites years of reckless spending and mismanagement. Paul Burton hosts. (14 minutes)