|Targeted News Service|
Following yesterday's vote by the
"We appreciate efforts by the Federal Reserve,
"Cities remain concerned that unless changed, the new rules will reduce the appeal of municipal securities for banks to underwrite them, thus increasing borrowing costs for state and local governments for desperately needed infrastructure projects. The cost impacts on governments could be significant, as bank holdings of municipal securities and loans have increased by 86 percent since 2009. We hope that regulators will work with us to address these concerns as they explore improvements to the new rules."
TNS 18EstebanLiz-140905-30FurigayJane-4847252 30FurigayJane
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