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Outflows from tax-exempt money market funds decreased to $66 million in the week ended July 21, as total net assets settled at $256.75 billion, according to The Money Fund Report, a service of iMoneyNet.com.
July 24
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Gov. Jerry Brown signed a bill into law on Wednesday that will expand an existing law to require California debt issuers to disclose any direct loans from banks to the California Debt and Investment Advisory Commission.
July 23
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Analysts and investors are applauding the pressure Standard & Poor's is putting on issuers to disclose their outstanding direct loans.
July 23 -
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With the votes in on Detroit's plan to deal with its $18 billion of debt, the stage is set for confirmation hearings next month that will pit unhappy bondholders and bond insurers against employees and retirees who overwhelmingly endorsed the plan.
July 22
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Three senators hope to offer an amendment on Senate floor that rejects budget gimmicks and requires passage in 2014 of a longer term transportation funding measure.
July 22
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Despite significant obstacles, Detroit's proposed plan of adjustment to exit its Chapter 9 bankruptcy is feasible, according to Martha Kopacz, the municipal finance expert hired by the bankruptcy court to assess the plan.
July 22 -
Detroits retirees and employees endorsed the citys proposed plan of adjustment while holders of the citys limited tax general obligation bond holders and certificates of participation rejected it, according to the voting results released late Monday by the federal bankruptcy court.
July 22 -
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The Amsterdam at Harborside plans to file for bankruptcy tonight or tomorrow, the conclusion of over a year of restructuring negotiations with bondholders. The plan does not forgive any debt, but does feature a senior and subordinate exchange offer.
July 21 -
Detroit's proposed plan of adjustment to deal with its $18 billion debt load is feasible, the municipal finance expert witness hired by the federal bankruptcy court to assess the plan believes.
July 21
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The ailing Highway Trust Fund needs a long-term answer, not another short-term patch, says Transportation Secretary Anthony Foxx
July 21
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Amid heightened demand for municipals and volume estimated to remain around $5 billion this week, competitive sales will dominate new-issue activity with a pair of Maryland general obligation offerings and an Alabama GO sale.
July 20
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The Detroit Institute of Arts has raised 80% of the $100 million it pledged to contribute to Detroit's underfunded pension debt.
July 18
