The Bronx Parking Development Corp skipped payment of interest to its bondholders and is now contemplating bankruptcy protection.
Tags: Municipal bonds
US regulators seek to tighten standards on muni advisers- report
The Municipal Securities Rule-making Board has released draft rules today aimed at tightening the standards that govern the conduct of firms that give advice to public officials regarding their municipal bonds.
Hedge funds seen to snatch risky opportunities US and foreign banks now avoid
While US and foreign banks do away with risky investments like municipal bonds, hedge funds had taken advantage with the loss of a competitor and increased their positions in such assets, a Barron's report said.
GE agrees to settle class action lawsuit on rigging municipal bonds for USD 18.25 million
General Electric Co agreed on a USD 18.25 million settlement of a class action lawsuit that accused the company of rigging bids for municipal bonds, according to a Reuters report.
US municipal bonds still register more outflows than inflows
According to a recent Lipper report, there have been fifteen weeks of outflows recorded for 2013. There is a continuous decline in the outflows from US municipal bonds, with numbers dropping below USD1.
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