Skip to main content

Newsroom

April 18, 2014

Treasury plans new unit to monitor muni market: WSJ

“(Reuters) – The U.S. Treasury Department is forming a new unit to monitor the municipal bond market, the Wall Street Journal reported, citing a Treasury official.”

“By boosting the department’s monitoring of municipal finance, the Treasury hopes to better understand the ramifications of municipal-market stresses, the newspaper quoted the official as saying.”

“The unit, which will be headed by a veteran public-finance banker at JP Morgan Chase(JPM.N), will also track state and local pensions as well as the financing of bridges, roads and other infrastructure projects, the Journal said.”

“The unit will focus on troubled borrowers and will not have the authority to write and enforce rules for the market. (r.reuters.com/qyz58v)”

“Efforts to boost oversight of the municipal bond market have taken on new urgency after Detroit’s bankruptcy and the financial problems in regions such as Puerto Rico, which has about $70 billion of outstanding debt.”

***
Read full Reuters article here.

In the News
Share

MEDIA REQUESTS

For media inquiries, please contact us at
press@bettermarkets.org or 202-618-6433.

Contact Us

For media inquiries, please contact press@bettermarkets.org or 202-618-6433.

To sign up for our email newsletter, please visit this page.

Name(Required)
This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact press@bettermarkets.org or 202-618-6433.

Donate

Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today