In comments filed with the Municipal Securities Rulemaking Board this week, ABA welcomed the MSRB’s acknowledgement of ABA concerns about its Rule G-34(a) amendment and reiterated the need for specific regulatory language.
The House today passed H.R. 1624, a bipartisan, ABA-backed bill that would expand banks’ ability to count municipal securities as high-quality liquid assets under the Liquidity Coverage Ratio.
Expressing support for disclosure requirements for direct loans and purchases in the secondary municipal securities market, ABA expressed concern today that the Securities and Exchange Commission’s proposal for disclosures is overbroad and excessively burdensome.
ABA today commented on the Municipal Securities Rulemaking Board’s Rule 34-G proposal to require muni dealers to obtain CUSIP numbers for new issue securities sold in private placement transactions.
Sens. Mike Rounds (R-S.D.), Mark Warner (D-Va.) and Chuck Schumer (D-N.Y.) today introduced an ABA-backed bill that would expand the ability of banks to count municipal securities as high-quality liquid assets under the Liquidity Coverage Ratio.
The Federal Reserve today issued its final rule counting certain municipal securities as high-quality liquid assets under the Liquidity Coverage Ratio — a step ABA has long advocated.
Through its Corporation for American Banking subsidiary, ABA today endorsed FTN Financial’s platform for municipal credit review and monitoring.
The House today agreed by voice vote to pass H.R. 2209. The bill, which is part of ABA’s Agenda for America’s Hometown Banks, would further expand the ability of banks to count municipal securities as high-quality liquid assets under the Liquidity Coverage Ratio.
The House Financial Services Committee is expected to vote this week on several bipartisan bills that are part of ABA’s Agenda for America’s Hometown Banks. H.R. 1309, introduced by Rep. Blaine Luetkemeyer (R-Mo.) with 112 bipartisan co-sponsors, would eliminate the automatic designation of banks as systemically important based solely on asset size, recognizing that regulators should consider many different components of risk.
ABA yesterday urged the National Federation of Municipal Analysts to remove from its draft recommended best practices a requirement to disclose bank loans to municipalities in advance of loan closing.