March 29, 2018
The National Association of State Treasurers is urging Congress to pass legislation defining readily tradeable, investment-grade municipal securities as high-quality liquid assets under federal banking rules that the market has complained constrain banks’ appetite for munis.
NAST sent a letter to congressional leaders in both the House and Senate urging support of companion bills H.R. 1624, sponsored by Rep. Luke Messer, R-Ind., and S. 828, sponsored by Sen Mike Rounds, R-S.D. The bills would require the regulators to treat munis that are investment grade and actively traded in the secondary market as level 2B HQLA.
Huge thank you and congratulations to our ABLE Committee Chairs @MOTreasurer @Eric_Schmitt and @ILTreasurer Mike Frerichs for their great job..