GFOA Approves Several New Best Practices Related to Disclosure, BABs and Derivatives
Feb 25, 2010
The Government Finance Officers Association (GFOA) Committee on Debt Management recently approved several new or revised best practices and advisory documents. The first, Understanding Your Continuing Disclosure Responsibilities, provides an overview of a government’s mandated continuing disclosure requirements. The document also discusses practices for voluntary disclosure a government may with to consider. The new advisory Issuing Build America Bonds explains the differences in planning and selling BABs versus traditional tax-exempt bonds. GFOA also updated two best practices documents, Using Variable Rate Debt Instruments and Use of Debt-Related Derivatives Products and the Development of a Derivatives Policy, to reflect changes in derivatives markets. Finally, the Committee updated the GFOA’s policy on tax credit bonds, Tax Credit Bonds and Other Federally Subsidized Bonds, to incorporate direct subsidy bonds.