The recent closure of the SLGS window combined with the extremely low interest rates on the front end of the yield curve has created a situation for small issuers in which it may be more cost effective, after fees, to cash fund an escrow rather than purchase a portfolio of open market Treasury securities
The debt ceiling for the United States is currently suspended until July 31 and at that time, it will be set to the amount of debt on that day. Once that new limit is set, by design, the Treasury department will be legally prohibited from incurring any additional debt
The debt ceiling for the United States is currently suspended until July 31 and at that time, it will be set to the amount of debt on that day
As we’ve written previously, the debt ceiling for the United States is currently suspended until July 31, 2021, and at that time, it will be set to the amount of debt on that day
During the webinar, we discussed several legislative initiatives intended to cover legacy financial instruments that do not include fallback language and are not subject to the ISDA 2020 LIBOR Fallbacks Protocols
As the market anticipated, the British Financial Conduct Authority formally announced this morning that all LIBOR tenors in multiple currencies will be discontinued or become non-representative
In the past, Blue Rose has written about the use of Guaranteed Investment Contracts (“GICs”) and compared them with Flexible Repurchase Agreements (“Repo”)
As regular readers of Basis Points are aware, the London Interbank Offering Rate (LIBOR) is expected to be phased out and replaced with the Secured Overnight Financing Rate (SOFR)
Many higher education institutions and other borrowers in the municipal market are enticed by the low interest rates that are being reported in the press
As a result of the economic slowdown caused by the COVID-19 pandemic, many budgets are strained and borrowers continue to look for ways to conserve cash as a way to increase their liquidity
