Variable-rate bonds

Recent court decisions have the potential to up the ante in lawsuits accusing major banks of manipulating the variable-rate market.

John Hallacy talks with Chip Barnett about how fiscal and monetary policy is affecting the municipal bond market. He discusses recent data releases, supply forecasts and the midterm elections and the future of ESG in public finance. (20 minutes)

The inclusion of swaps has the potential to increase claimed damages in the New York State lawsuit, though banks view swap materials as providing a potential defense.

The federal lawsuit brought by Philadelphia, San Diego and Baltimore on behalf of thousands of issuers is similar to a series of closely watched state whistleblower cases that claim banks manipulated interest rates on variable-rate bonds.

The office of Rob Bonta filed its objection to the dismissal with a California appellate court in San Francisco May 19.

As the MTA works toward a post-pandemic future, Kevin Willens, formerly co-head of public finance at Goldman Sachs, becomes its chief financial officer.

Avoiding even the appearance of representing conflicting interests is important for attorneys and municipal advisors alike.

A proposal from the Ohio Treasury would provide a new enhancement for state-purchased public university debt and offer a backstop for hospitals' VRDOs.

A superior court judge has granted the relator a small victory in a long fought case of alleged false claims, fraud and collusion.

Issuers should recognize their ability to prepay debt is an extremely important term, and they should consult with their MAs to achieve the most liberal prepayment term consistent with the type of financing they are doing.