Tag: Municipal Bond Credit
-
Municipal Bond Credit Report: Pension pain rising for Illinois governments amid coronavirus pandemic – Bond Buyer
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Already struggling under the weight of burdensome pension tabs, Illinois and many of its local governments face even more damaging wounds from the COVID-19 pandemic, raising rating, solvency and bondholder risks… Link to Story
-
Municipal Bond Credit Report: Illinois eyes borrowing billions through Fed’s short-term lending program – Bond Buyer
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Illinois’ fiscal 2021 budget may rely on borrowing billions through the Federal Reserve’s short-term borrowing program if separate direct funding help from the federal government that Gov. J.B. Pritzker and other governors across the country are seeking to help make up for COVID-19 tax losses fails to quickly come to fruition……
-
Municipal Bond Credit Report: Workers File 2.4 Million Unemployment Claims – WSJ
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Workers filed an additional 2.4 million unemployment claims last week, a slight drop-off from previous weeks in the wave of historically high filings since the economic fallout from the coronavirus pandemic began… Link to Story
-
Municipal Bond Credit Report: Illinois may borrow using MLF after a Fed policy adjustment
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Illinois may use the Federal Reserve’s Municipal Liquidity Facility for its $1.2 billion sale of one-year certificates to help manage a fiscal 2020 budget hole caused by the COVID-19-driven economic shutdown… Link to Story
-
Municipal Bond Credit Report: Fed muni program open for business
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The Federal Reserve’s short-term municipal note program is “open today” to states and local governments struggling with financial woes during the pandemic, though it was reiterated that the program is a last resort… Link to Story
-
Municipal Bond Credit Report: Advance refunding could be inserted into a bipartisan HEROES Act
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Reinstatement of advance refundings could be a relatively low-cost addition to the $3 trillion House-passed HEROES Act as congressional Democrats negotiate changes with Senate Republicans and the Trump administration, according to a leading Republican on the House Municipal Finance Caucus… Link to Story
-
Municipal Bond Credit Report: Powell says Fed to use ‘full range of tools’ to support economy
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Federal Reserve Chairman Jerome Powell said the central bank is prepared to use its full range of tools and leave the benchmark lending rate near zero until the economy is back on track… Link to Story
-
Municipal Bond Credit Report: Mnuchin Says Treasury Ready to Provide More Money, Take More Risk in Fed Lending Programs
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Treasury Secretary Steven Mnuchin said Tuesday he was prepared to provide more money and take more risk to expedite lending programs being established by the Federal Reserve to combat the economic crisis caused by the coronavirus pandemic… Link to Story
-
Municipal Bond Credit Report: ‘We are fully prepared to take losses’ on coronavirus business bailouts, Mnuchin says
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Treasury Secretary Steven Mnuchin told senators Tuesday that his department and the Fed are “fully prepared to take losses in certain scenarios” on the capital remaining to be distributed from the CARES Act… Link to Story
-
Municipal Bond Credit Report: Governor: California’s new deficit will take years to repair
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: With steep cuts needed for California to balance its budget this year, California may need to engage in interfund borrowing to get its budget to balance, Gov. Gavin Newsom said… Link to Story