How a tweak to the Federal Home Loan banks could save cities


Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue.


Fed urged to widen eligibility for pandemic loan programs


Members of both parties raised concerns that the requirements for participating in the Municipal Liquidity Facility and Main Street Lending Program are too restrictive to benefit smaller localities and certain midsize firms.


Cheat sheet: 8 ways Fed is using emergency powers to counter pandemic


The central bank’s programs announced since mid-April in response to the coronavirus outbreak match if not exceed the actions it took during the 2007-9 financial crisis.


Fed opens Municipal Liquidity Facility to smaller cities and counties


The central bank expanded the reach of the program as pressure mounts on the government to support localities struggling economically because of the coronavirus pandemic.


5 more moves the Fed is making to prop up the economy


Midsize businesses and state and local governments are among the beneficiaries of the central bank's latest $2 trillion effort to mitigate the economic damage caused by the coronavirus pandemic.


Fed expands use of credit facilities to offer additional $2.3 trillion in loans


The Fed's actions are designed to ensure the flow of credit to midsize businesses and state and local governments hit hard by the economic impact of the coronavirus pandemic.


Fed expands reach of new credit facility to muni bond market


The central bank said its program to support money market mutual funds will also serve as a backstop for state and local governments.


California quietly lifts ban on doing business with Wells Fargo


Even before Tim Sloan stepped down as the chief executive officer of scandal-stung Wells Fargo, the bank had already gotten back into the good graces of the biggest U.S. state.


Biggest U.S. banks slash muni-bond holdings after tax cut


JPMorgan Chase, State Street, Wells Fargo, Citigroup and Bank of America decreased their holdings of tax-exempt bonds by nearly $16 billion in the first half of 2018, according to quarterly filings with the U.S. Securities and Exchange Commission.


New rule allows banks to count municipal securities as liquid assets


The regulation implements a recent legislative provision dealing with how banks comply with post-crisis liquidity requirements.