Washington

An MSRB study gauges the effect exchange-traded funds may have on muni market liquidity, a key question in the minds of some regulators.

Federal Reserve officials leaned toward a slightly faster pace of tightening at their March meeting as their growth outlook and confidence in hitting their inflation target strengthened, according to minutes released Wednesday.

The Georgia Legislature’s plan to cut the city of Stockbridge in half, without its consent, brought warnings of litigation from bondholders and potential damage to the state's triple-A rating.

An unsealed whistleblower lawsuit accuses eight Wall Street and regional banks and broker-dealers that served as remarketing agents of fraud and collusion in resetting rates for variable rate demand obligations issued by state and local issuers in Illinois.

Eleven states and five cities will also receive a share of the CDBG disaster grants, with the biggest amount of $4.7 billion going to Texas for the damage caused by Hurricane Harvey.

Federal Reserve Bank of Dallas President Robert Kaplan said trade issues between the U.S. and China won’t get resolved soon and warned of potential damage.

The MSRB said the paper was prompted in part by the tax law's prohibition on advance refundings and the fact that interest rate swap rules intersect with the board's rules for municipal advisors.

People involved in the $3.5 billion sale received notices that there would be no enforcement action.

The Legislature's budget failed to provide debt service on some bonds, decimated reserves, and lacked full funding for core services, Gov. Matt Bevin said.

Federal Reserve Bank of Minneapolis President Neel Kashkari said he’s “sympathetic” to the need to press China to engage in fair trade, yet emphasized it’s too soon to assess the full impact of the U.S.-China trade spat on the economy.