Banking

The MSRB announced new board leadership as well as a revision to a controversial fee structure proposal.

MMA revised down its credit outlook for several sectors noting that looming credit trouble in the second half of the year may underpin a bleak credit and operating situation for certain issuers.

The MSRB’s proposed changes to its fee structure fails to address the discrepancy between fees generated from dealers and municipal advisors in addition to a lack of transparency in its budgeting process.

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.

The chances of an economic slowdown are rising as the Federal Reserve is poised to take further steps to tame inflation, say the heads of JPMorgan Chase, Bank of America and Morgan Stanley.

In a recent survey, just over half of community bankers expressed concern that the central bank will harm the U.S. economy by raising rates too fast in its quest to contain inflation.

The Federal Reserve has hired five executives from the stablecoin issuer Circle and at least one employee of Ripple since 2019 as part of its technology-focused recruiting efforts. It plans to do more hiring in the years ahead to aid its work on faster payments and central bank digital currencies.

The Marijuana Opportunity Reinvestment and Expungement bill,if passed, could wipe out some hesitations for issuers hoping to finance their own marijuana facilities.

The Securities Industry and Financial Markets Association has bolstered its team with the additions of Jennifer Jacoby, Matthew Grinney and Nick Key.

The credit unions had bought $976 million of Puerto Rico bonds and notes, which they alleged they were coerced to purchase by Puerto Rico government and its agencies.