The Federal Reserve Board ("FRB") revised its Municipal Liquidity Facility ("MLF") term sheet to include a pricing methodology.
As previously covered, the MLF will purchase up to $500 billion in short-term notes issued by U.S. states, cities and counties that meet certain population thresholds. In the updated MLF term sheet, the FRB added a pricing appendix to provide further information on taxable and tax-exempt eligible notes.
Primary Sources
- FRB Press Release: Federal Reserve publishes updates to the term sheet for the Municipal Liquidity Facility
- FRB Term Sheet: Municipal Liquidity Facility
- FRB Appendix: Appendix B, Municipal Liquidity Facility - Pricing Appendix
Originally published 11 May 2020
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
