Washington

There is no deadline for local governments or states to spend the money, with much it expected to be put to use quickly.

Nonbanks had worried the end of the Paycheck Protection Program Liquidity Facility would hurt their ability to lend to small businesses. On Monday, the Federal Reserve announced the facility would be extended for three months.

Among over 1,200 dealers registered with the MSRB, 21 firms are bank dealers who would be impacted by the change.

A conversation with Rodney Slater and Bill Shuster

A new GFOA advisory said the International Swaps and Derivatives Association has developed “more robust fallback language to specify the rate to be used upon a Libor cessation.”

Trade volume increased by just 4% compared to 2019 following a volatile year for munis.

Reinstating certain municipal bond provisions would make way for more infrastructure investment.

Lt. Gov. Dan McKee succeeds her on a day state voters approved seven bond measures totaling $400 million.

Federal Reserve Governor Lael Brainard said it will take “some time” to meet the conditions laid out by the U.S. central bank for reducing the pace of its massive bond purchases, while noting recent bond market volatility.

President Biden has gone on record favoring statehood, unlike his predecessor who slow-walked federal aid to the territory in the wake of Hurricanes Maria and Irma.