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.

The Securities and Exchange Commission’s Division of Examinations intends to home in on municipal advisor obligations, transfer agents and municipal issuer disclosures.

Elements of the Securities and Exchange Commission’s climate disclosure proposal may influence the Municipal Securities Rulemaking Board as it considers more specific rules for the municipal bond market.

The Municipal Securities Rulemaking Board has closed its second comment period on Rule G-46, collecting three responses.

The Municipal Securities Rulemaking Board’s request for information on ESG is an attempt to bring politics into capital markets, Marlo Oaks said.

The MSRB's request for information on environmental, social and governance considerations in the muni market showed just how uneasy market participants are feeling.

Emily Brock, director of the federal liaison center at the Government Finance Officers Association, takes time out to talk with Chip Barnett at The Bond Buyer’s National Outlook Conference about infrastructure spending. She also looks at the possibility of Congress approving the return of tax-exempt advance refundings and the SEC and MSRB’s focus on issuers ESG disclosures. (17 minutes)

Green bond issuance may offer no pricing benefit to issuers, but observers have noticed that the process of issuing a green bond often leads to an expanded investor base.

The MSRB’s annual fact book, released on Wednesday, shows that par amount trading volume was down 28% in 2021 when compared with 2020.

Market participants are wary that regulators may muddle ESG risk disclosure guidance with guidance regarding labeled bonds.

The Municipal Securities Rulemaking Board’s request for information on environmental social and governance factors is beginning to collect responses from issuers and practitioners alike, revealing some of the market’s initial priorities.