Joint Response to ABS Conflicts of Interests Proposal
Comments submitted by a NABL-led coalition in response to the SEC’s request for comments on its proposed rule “Prohibition Against Conflicts of Interest in Certain Securitizations.”
Biden Releases FY2024 Budget Proposal
The White House’s FY2024 budget proposal is out and includes the “LIHTC Fix.”
Tax Increment Financing (“TIF”) Bonds
Bonds are special obligations secured by incremental increases in tax revenues paid by users of developed property or by general increases in taxable values within a designated tax increment area.
Credit Enhancement or Liquidity Facility Provider
Parties providing superior credit to improve the credit quality of a bond issue, and/or funds to the issuer to repurchase bonds that a bondholder may tender.
Weighted Average Maturity
Generally, the weighted average maturity of a bond issue is the sum of the product of the issue price of each maturity of the bond issue multiplied by the number…
The increasing of a rating by a rating agency. Higher ratings indicate higher credit quality.
Trust Indenture Act of 1939
A federal statute setting out the requirements for trust indentures in connection with publicly traded corporate securities.
An attorney or firm of attorneys engaged to serve as counsel to the trustee.
A commercial bank or trust company with trust powers which acts in a fiduciary capacity for and on behalf of the bondholders by entering into an indenture with the issuer…
A bond, the interest on which is not excludable from gross income for federal income tax purposes.
A supplement to an outstanding indenture, entered into pursuant to the terms of an outstanding indenture and delivered in connection with the issuance of additional bonds, to cure an inconsistency…
A contract typically seen in transactions that involve a letter of credit or a guaranty.