MSRB

Largely attributable to Fed interest rate increase-led volatility, outstanding municipal bonds lost $300 billion of market value in the first quart of 2022, a Municipal Securities Rulemaking Board report said.

Disclosure around ESG-related risk factors to credit as well as for ESG-labeled bonds remains a mixed landscape that reflects the heterogenous nature of the muni market itself.

The Municipal Securities Rulemaking Board’s visiting scholar Lourdes Germán will use the board’s data to help research ESG trends in public finance, including the impact of ESG on the secondary market.

The MSRB addressed its controversial request for information during the Government Finance Officers Association’s first live conference in two years.

The Municipal Securities Rulemaking Board has filed a proposal to change its fee structure to account for prior year market results in a move that will help the board cover budget shortfalls.

Issuer fears that ESG regulation will lead to disclosure trouble are overblown, the SEC’s muni office chief said Wednesday.

An MSRB analysis finds that trading volumes have fallen dramatically since the Great Recession, led by a drop in short-term paper, while trading surged at certain times of uncertainty and market dislocation.

The MSRB plans to issue a request for comment on its Rule G-14, in addition to publishing a summary of the comments on its request for information on ESG factors.

Municipal advisors are seeking more and better communication from regulators and enforcers, NAMA Executive Director Susan Gaffney says. Kyle Glazier hosts. (24 minutes)

The Municipal Securities Rulemaking Board’s second quarter meeting will feature discussion of one of the board's more controversial recent publications.