Washington

Illinois expects to close by the end of the week on a three-year loan through the Federal Reserve at 3.42%, a steep penalty compared to the state's current trading levels.

The bill includes money for coronavirus vaccine distribution, schools, transit, airports, small business, and the unemployed.

Ken Lind, leader of Nixon Peabody's project finance and public finance group, breaks it down by sectors and financing instruments. He also examines virus-related SEC disclosure guidance plus the planned phaseout of Libor. Paul Burton hosts. (38 minutes). Recorded Dec. 2.

The SEC said the court should oppose SIFMA's motion to include news articles in the proceedings, saying the group relied on only one rationale.

The Federal Open Market Committee meeting this week will not offer the chance of rate changes, but will bring a new dot plot, and economists are most interested in the GDP projections.

The number of issuers using a temporary exemption jumped to 101 in October from 35 the previous month.

The GFOA Debt Committee is working on issuing a similar Libor advisory in advisory in January or February.

Pinned into a corner from the economic effects of COVID-19, the mass transit agency tapped its remaining amount available through the Municipal Liquidity Facility, which expires at year's end.

As co-director of the Enforcement Division, Stephanie Avakian oversaw charges the SEC made against municipal bond “flipping” schemes.

A bipartisan group of eight senators on Wednesday released further details of their $908 billion framework for emergency aid, including $160 billion for state and local governments.