Subject Root Tag

FINRA announced the settlement this week, in which RBC agreed to a censure while neither admitting nor denying FINRA’s findings that it violated Municipal Securities Rulemaking Board Rule G-27 on supervision. RBC was not fined.

Michael Ruvo, president and CEO of BondWave, talks about how he thinks technology changes — and the data that enables those changes — will help with market transparency and make for a more efficient market overall. Lynne Funk hosts. (21 minutes). Recorded Dec. 4.

Its $17 billion operating plan projects $4.5 billion in Washington assistance next year while sidestepping — for now — doomsday service cuts and layoffs.

Daily report for December 17, 2020.

This was the inaugural issuance under the “No Place Like Home” program, the first large municipal bond program created to invest in homeless housing infrastructure and secured directly by taxes on high-income residents.

The Federal Open Market Committee announcement commits it to buying at least $120 billion of securities a month until “substantial further progress” is made on its dual mandate of stable prices and maximum employment, suggesting it will continue well into 2022.

AAPA contends Congress should provide aid to ports as the industry has been hammered by COVID-19.

ICI reported another $2.3 billion of inflows, new deals continue the march to lower yields and benchmarks rose a basis point seven years and out for the first time since the beginning of December.

Lawmakers approved a plan that would have the Nassau Interim Finance Authority issue 15-year deficit finance bonds to achieve debt savings.

The Federal Reserve said it will continue to support the economy through massive monetary stimulus until it sees “substantial further progress” in employment and inflation.

It substitutes the $160 billion in direct aid to state and local governments that had been proposed with direct checks to individuals.

The former South Bend, Indiana mayor understands the needs of state and local governments, though he lacks experience running a large organization.

The legal wrangling over whether the state can control expressways in Miami-Dade County is expected to rage on well into 2021.

The rising number of COVID-19 cases and the restrictions imposed to stop its spread, led to a pullback in consumer spending and has a regional service sector reeling.

It has become apparent that even more creativity will be necessary to pass legislation in the upcoming Congress. The only problem is we do not have the luxury of time.

Daily report for December 16, 2020.

Illinois expects to close by the end of the week on a three-year loan through the Federal Reserve at 3.42%, a steep penalty compared to the state's current trading levels.

The state of Illinois sold $2 billion of three-year notes to the Federal Reserve's Municipal Liquidity Facility at 3.42%.

The Port Authority of New York and New Jersey is proposing a scaled down 2021 budget that includes additional borrowing for its capital program.

The authority that financed baseball and football stadiums in Chicago is sounding fiscal alarms as the coronavirus pandemic crushes hotel tax revenue.