City of New York, NY

The artificial intelligence revolution has arrived. NYC's CTO, Matthew Fraser, tells American Banker's Executive Editor of Technology, Penny Crosman, how new technology is shaping policy in America's largest city.

"Last year's successful social bond issuance has proven that there is growing investor demand for socially conscious investments and I am thrilled that we are able to offer this opportunity again," said City Comptroller Lander said.

The total economic impact from the almost 292 million tourists visiting the Empire State last year was roughly $123 billion.

"Coupling the costs of a national crisis that has fallen onto New York City with COVID funding that is running out and reduced revenue growth, our city's financial future may be at risk if we do not act," Mayor Eric Adams said.

In the first half of the year, private-sector jobs in the Big Apple surpassed pre-pandemic levels as payroll gains outperformed the national growth rate. However, Mayor Adams says there is one big problem that "will destroy New York City."

For the three-month period ending June 30, the fund's investments returned about 3.08%.

Despite looming economic and social challenges, New York City's economy has proven to be more resilient than projected, New York's comptrollers Brad Lander and Thomas DiNapoli say.

Costs associated with the influx of migrants could cost the city more than $12 billion over fiscal 2023, 2024 and 2025.

New York City's $1 billion deal was re-priced to lower yields and a tax-exempt and taxable deal for the NFL's Tennessee Titans new stadium priced.

Though the city has vast financial strengths, it is struggling with the costs of housing migrants and declining commercial property values.