Today, following continued discussions with the Muni Exec Committee, the BDAsubmitted comments to the Federal Reserve in response to the announcement of the Municipal Liquidity Facility. The BDA comments follow prior communications with the Federal Reserve and Treasury, and focus on support of the new program, while providing additional recommendations for the Fed as they continue to build out key features and terms of the facility.
The letter can be viewed here.
The BDA comments focus on the following aspects of the Feds program:
- Scope of Participation
- Information Disclosure
- Cost of Issuance
The BDA will continue to provide updates as they become available