MSRB

In a weekly COVID-19 disclosure report released Tuesday, included among the hundreds of disclosures were two unscheduled draws on debt service reserves.

MSRB Chief Market Structure Officer John Bagley will join the Federal Reserve Bank of New York for eight months to lend his municipal market knowledge toward the Fed’s new Municipal Liquidity Facility.

At a virtual quarterly board meeting this week, the board discussed its search for the next CEO, which has been affected by the virus.

A disclosure filed with the MSRB said two rehabilitation and nursing facilities in Massachusetts were unable to make a scheduled payment due to the coronavirus pandemic.

The MSRB's proposal to implement a more strict standard for public board members would impede the recruitment of qualified candidates, ICI said.

Starting on March 10, ETF prices consistently diverged from benchmark indices and were underpriced for about 10 trading days before converging again.

The board will "review the MSRB’s organizational response to the COVID-19 pandemic, including measures to ensure the safety of staff and stakeholders."

Technical and fundamental concerns surrounding credit and supply could present challenges for the market going forward but participants tepidly welcomed signs of stability.

Due to the coronavirus, a plant in Indiana may not be able to make its bond payments.

The MSRB wants to give dealers and muni advisors more time to implement amended rules and interpretive guidance as well as finish professional qualification and supervisory requirements.

He served a third of his career as a senior managing director of Citi’s Institutional Clients Group, a role from which he retired in June 2019.

Most of the disclosures tracked since the beginning of the year were filed in March, the MSRB said.

The group is charged with advising MSRB board members on ways to improve EMMA.

Morgan Stanley, Ameritas Investment Company LLC and a former Stifel broker agreed this week to pay the fines for violating multiple muni securities rules.

In the MSRB’s first report showing data from March 24, trades topped 87,215, which is likely a record, said Marcelo Vieira, MSRB director of research.

First Manhattan Co. bought municipal securities from an unaffiliated dealer without making a reasonable effort to obtain fair and reasonable prices, FINRA said.

The SEC answered questions regarding COVID-19 disclosure in a webinar Thursday and said there would not be relief for issuers' late annual financial filings.

Tax-exempt municipal yields rose substantially last week causing the MSRB to take a look at trade data, said John Bagley, MSRB chief market structure officer.

But EMMA will ultimately have to drill into disclosures to provide full transparency

The MSRB's annual fact book showed that trading volume dipped 14% year over year.