Using a novel data set on municipal private debt disclosures, the authors of this academic research study the effectiveness and market impact of disclosure regulation in the municipal debt market. By comparing reportable private debt events to the...

This publication provides an overview of the federal tax law rules that apply to municipal financing arrangements commonly known as “governmental bonds.” It is intended to help issuers meet federal tax law requirements to ensure that interest...

The Municipal Liquidity Facility is a Federal Reserve program created in April as a new financing source for state and local governments. This MLF factsheet was produced by the Pew Charitable Trusts in October 2020.

This report provides an update as of November 23, 2020 on all of the Federal Reserve's outstanding lending facilities. These include the Primary Dealer Credit Facility (PDCF), the Commercial Paper Funding Facility (CPFF), the Municipal Liquidity...

Due to recent events related to COVID-19, the SEC released a public statement on May 4, 2020, encouraging municipal issuers and issuers to consider voluntary disclosures of forward-looking information regarding the potential future impacts of...