Updated Pricing Detail: Federal Reserve’s Municipal Liquidity Facility

  • The U.S. Federal Reserve today released additional pricing details for its Municipal Liquidity Facility (MLF).

  • The pricing details further reinforce that issuers should view the Federal Reserve’s MLF as a program to be utilized only if an issuer or issuers do not have market access. The MLF should not be considered an alternative to selling debt in the market in the manner in which the 2008 Recovery Act’s Build American Bond (BAB) program was a decade ago.

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