Variable-rate bonds

A federal judge largely rejected the arguments offered by Wall Street banks seeking to dismiss the lawsuit, which alleges a conspiracy to fix rates in the VRDO market.

The Louisiana State Bond Commission will refinance $424 million of variable-rate bonds; the deal isn't expected to include the termination of underwater swaps.

Missing minimum denomination and interest rate information for VRDOs affected about 57 CUSIPs, FINRA found.

VRDO reset rates in California consistently were too high to be justified, a new filing contends.

New York Federal Reserve President John Williams said the transition away from Libor “continues to be of paramount importance.”

The office of Illinois Attorney General Kwame Raoul informed a Cook County court it will not allow the Edelweiss lawsuit to be dismissed on public disclosure grounds.

GASB will release on April 16 a list of delays to various initiatives because of the coronavirus pandemic.

Banks failed to convince the court that the lawsuit doesn't meet the legal hurdles for a false claims action.

The state treasurer’s office began purchasing eligible VRDOs from participating Ohio health care systems and other critically important institutions.

The state stepped in to prevent Wall Street banks accused of wrongdoing in the variable-rate market from using what has been their most effective argument.

At issue is the so-called "public disclosure bar," which prevents a whistleblower from pursuing a lawsuit based on publicly available information.

The Illinois Toll Highway Authority’s $698 million refunding eliminates its synthetically fixed debt in favor of fixed-rate paper.

Longtime IRS employee Allyson Belsome will serve as senior manager for the office of Tax Exempt Bonds.

Major banks accused of manipulating the variable-rate market are seeking to get the court to toss out the second amended whistleblower complaint filed by municipal advisor Johan Rosenberg.

A deal this week will refinance Indiana Finance Authority lease appropriation bonds issued in 2008 for a convention center expansion project.

Also revealed is the addition of longtime NABL member Perry Israel to the Edelweiss Fund legal team.

The sections pertaining to public finance can be implemented immediately.

The proposed transition regulation addresses the possibility that such a modification of a debt instrument, derivative, or other financial contract could be a taxable transaction for federal income tax purposes or could result in other tax consequences.

The legal teams for Baltimore and Philadelphia asked the court to reject the banks’ plausibility argument as well as their claim that the suit is barred by a four-year statute of limitations.

The shuttered College of New Rochelle filed for Chapter 11 bankruptcy last week while it markets the Westchester County campus in an effort to pay off creditors.