News and Information from Bond Buyer

Municipal bond mutual funds reported inflows for a third consecutive week as they took in $338 million of net inflows for the week ended Jan. 29, Lipper FMI numbers showed.

U.S. banking regulators are proposing to exclude municipal securities as high quality liquid assets in a rule designed to ensure banks and other large financial institutions are equipped to handle severe financial and economic stress.

Government

The SEC will release more guidance on technical aspects of its municipal advisor registration rule prior to the rule's July 1 effective date, John Cross told issuer officials Thursday.

Stifel Financial Corp., the parent company of Stifel, Nicolaus & Co., acquired public finance banking boutique De La Rosa & Co. The deal may catapult Stifel into a top-10 underwriting position in municipal bonds.

Bond Buyer Indexes Down for Fourth Week

To deal with ongoing fiscal problems Atlantic City, N.J.'s government is seeking state aid.

Municipal bond yields jumped Thursday after the Federal Reserve announced it will increase its tapering program. Puerto Rico bonds also softened.

Spending abuses among public school districts prompted the Kentucky House to adopt legislation that strengthens financial reporting and educational requirements.

Adjusted net pension liabilities for most states grew larger in fiscal 2012 because of minimal investment returns and a decrease in the interest rate index used to derive the present value of liabilities, Moody's Investors Service said in a report issued Thursday

Standard & Poor's and Moody's both revised their outlooks to negative on the University of Chicago noting poorer than expected fiscal performance, planned deficits, and future borrowing plans.

The thousands of airline flights cancelled this winter due to severe weather may affect some airports' revenues and cost budgets, Fitch Ratings said.

The Tuomey Healthcare System is fighting what it calls improper federal efforts to subordinate bondholders while it appeals a massive fraud judgement.

Michigan Gov. Rick Snyder declared fiscal emergencies in a pair of Detroit suburbs, Royal Oak Township and Highland Park, the first step toward a state takeover or declaration of bankruptcy.

Moody's Investors Service said it has downgraded the city of Williston, N.D.'s general obligation rating to Baa2 from A3, affecting $4.7 million in parity debt obligations.

Law firm Thompson Coburn LLP is bolstering its public finance team in Chicago with the addition of veteran public finance attorney Thomas Smith.

Two members of the California Assembly announced hearings starting Feb. 19 to close the $71 billion funding shortfall in the California State Teachers' Retirement System.

Municipal trading veteran John R. Zurlo has joined Lebenthal & Co as the firm expands its secondary sales and trading business.

Tax-exempt money market funds lost $2.29 billion in the week ended Jan. 27, as total net assets dipped to $269.29 billion, according to The Money Fund Report, a service of iMoneyNet.com.

Developers of a proposed 250-room hotel adjoining a state-owned casino and speedway in Kansas City, Kan., win a 90-day delay to break ground.