Washington

All U.S. states will be able to have at least two cities or counties eligible to directly issue notes to the Municipal Liquidity Facility program regardless of population.

Illinois did not use its maximum amount of notes in the Fed program which could mean a possible expansion of eligibility for the muni program.

Illinois said Tuesday it signed an agreement for the Municipal Liquidity Facility to purchase its one-year certificates. Closing is expected Friday.

Members of both parties raised concerns that the requirements for participating in the Municipal Liquidity Facility and Main Street Lending Program are too restrictive to benefit smaller localities and certain midsize firms.

The monthly drop collectively topped $60 billion.

State and local governments have increasingly filed COVID-19-related disclosures to the market, but only about 931 issuers out of roughly 40,000 have filed over 1,500 material event notices and continuing disclosures since the pandemic began.

Federal Open Market Committee members have been adamant that negative rates would be a last resort.

Greater pre-trade transparency has been a long-standing Securities and Exchange Commission goal.

The high court unanimously ruled the Oversight Board members do not need to be confirmed by the U.S. Senate under the Constitution’s Appointments Clause.

Gov. Phil Murphy’s $5 billion emergency bond plan to patch revenue gaps caused by the COVID-19 pandemic faces an uncertain future in the state legislature.