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Top related persons:
Carlos Osorio - 1 Jesse Furman - 1 Goldman Sachs - 1 JPMorgan Chase - 1 Morgan Stanley - 1 Wells - 1 San Diego - 1 Banks - 1
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Search resuls for: "Municipal Securities Rulemaking Board"


4 mentions found


☆ Eight big banks must face US cities' bond collusion claims
  + stars: | 2023-09-21 | by ( Jonathan Stempel | Us Appeals Judge Faults Probe Of Federal Circuit'S Pauline Newman | Andrew Goudsward | ) www.reuters.com   time to read: +2 min
[1/2] A sign for the Royal Bank of Canada in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio Acquire Licensing RightsNEW YORK, Sept 21 (Reuters) - A U.S. federal judge on Thursday said American cities may pursue class-action claims accusing eight large banks of driving up interest rates they paid on a popular municipal bond. Cities led by Baltimore, Philadelphia and San Diego accused the banks of colluding to raise rates on more than 12,000 variable-rate demand obligations (VRDOs) from 2008 to 2016. Cities accused the eight banks of conspiring not to compete for remarketing services, and artificially inflating rates by sharing information about bond inventories and planned rate changes. The case is Philadelphia et al v Bank of America Corp et al, U.S. District Court, Southern District of New York, No.
Persons: Carlos Osorio, Jesse Furman, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Wells, San Diego, Banks, Furman, Dan Brockett, Jonathan Stempel, Marguerita Choy Organizations: Royal Bank of Canada, REUTERS, U.S, Bank of America, Barclays, Citigroup, JPMorgan, Municipal Securities Rulemaking Board, al, Bank of America Corp, Court, Southern District of, Thomson Locations: Toronto , Ontario, Canada, Manhattan, Baltimore, Philadelphia, San, colluding, U.S, Southern District, Southern District of New York, New York
☆ Wall Street lines up against SEC chair Gary Gensler on one of his most controversial proposals
  + stars: | 2023-03-31 | by ( Bob Pisani | ) www.cnbc.com   time to read: +15 min
However, Gensler has claimed that pension funds and other institutional investors are not able to interact with that retail order flow. Auctions: the industry lines up against it The auction proposal has generated a large volume of comment letters to the SEC. He has said investors today need a better understanding of how well their trading orders are being executed. Theoretically, the SEC could vote on any or all of the four proposals in a shorter time period. This is just the start This is just the start of many proposals in front of the SEC.
☆ Private Lending Takes Root in Muni Market
  + stars: | 2022-10-26 | by ( Heather Gillers | ) www.wsj.com   time to read: 1 min
Banks typically buy tax- or fee-backed debt from small school districts or towns in quantities that can be as little as a few million dollars. A pandemic surge in privately sold municipal bonds is highlighting how private deals have become a mainstay of the $4 trillion market for state and local debt—and a go-to in times of stress. During the three months ended in May 2020, the amount of municipal debt sold privately spiked to 13.4%, the highest share in 13 years on record, according to a report this week by the Municipal Securities Rulemaking Board. It has since retreated to about 8%, or around $36 billion—up from 4% in 2012 but in line with its average for the past decade, according to data from the board and Refinitiv.
☆ Market rout has muni bonds looking attractive. How to add them to your portfolio
  + stars: | 2022-09-25 | by ( Michelle Fox | ) www.cnbc.com   time to read: +7 min
"Uncertainty around how high interest rates will go has driven redemptions in muni bond funds," he explained. Whenever we have a chance to add to muni bonds now, we do so." For instance, you can go to Fidelity Investments' website and access more than 50,000 municipal bonds as new issues or through dealers on the secondary market. Here are five Morningstar five-star rated muni bond funds. "Many closed-end bond funds are trading at prices that are below their net asset value," he said.
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