Mooney bondholders in the dark as borrowers evade loan disclosure rules


July 19, 2021 5:33 PM

Private lending to US states and cities has more than doubled over the past decade. But bondholders are not told about the risks.

Between 50% and 80% of such loans are not disclosed to bondholders, despite regulations in 2019 requiring them to be reported on securities, according to a study co-authored by a senior economist at the Federal Reserve, which was presented by the latter. week in Brookings Institution 10th Annual Municipal Finance Conference. The document compares loans disclosed through Municipal Securities Regulatory Board system with confidential credit data transferred to the FRS by the 37 largest …

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