Washington

The Federal Reserve may have succeeded in thwarting major year-end turmoil in funding markets.

The investigation appears to be linked to the supervision of Deborah Kelley, a broker who was convicted and sanctioned for bribing a state pension fund officer.

GASB’s final guidance on the Replacement of Interbank Offered Rates is expected to be issued in March, giving state and municipal governments plenty of time to make adjustments before Libor is phased out by the end of 2021.

The annual rotation among FOMC voters could influence monetary policy.

As surface transportation funding is set to expire later in 2020, a new reauthorization could help push muni bond initiatives next year.

The new alternative reference rates cited by Treasury and the IRS include the Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York and the Federal Funds Rate.

Gary Hall of Siebert Williams Shank talks with Chip Barnett about the recent merger which created the largest minority- and women-owned investment bank in the U.S. He looks back at his time at the MSRB and looks ahead to what the market may see in 2020.

Events at the SEC are likely to create a number of important MSRB rule changes in the coming year.

The orders issued Dec. 23 bring to a close the Securities and Exchange Commission enforcement action against Navnoor Kang, Deborah Kelley and Gregg Schonhorn.

The U.S. Department of Transportation reasonably determined the Florida’s passenger train owners were qualified to receive private activity bond financing.