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Much of Wall Street wants to exempt market makers and traders who follow certain market-neutral strategies, warning that without them, those traders would be subject to unnecessary risks of having to maintain positions overnight.
Niederauer already convinced the SEC to exempt market makers.
The availability of BABs has enabled state and local governments to issue fewer tax exempt bonds, which has lowered their borrowing costs in the tax exempt market.
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Issuers will now have to return to the traditional tax-exempt market to raise capital, increasing municipal bond supply.
"The credit markets have gotten a lot better in the last 90 days, especially the tax-exempt market," said Gregg Carey, chief of the sports financing group at Goldman Sachs.
And it exempts market makers.
Dodd-Frank exempted market-making from the Volcker Rule, but the companies worry that the exemption is too narrow.
The Dreyfus California Tax Exempt Money Market yields 1.57%.
In view of the low level of this amount and the relative complexity of the sharing method implemented, we consider that the credibility of a logistic cooperation scenario exempt from market power should be reappraised.
Truth to tell, garden officials would have preferred to start a bit earlier, when the tax-exempt bond market was still intact, or to wait a bit longer.
These borrowers, primarily affordable housing projects across the country that are allowed to raise money in the tax-exempt bond market, had been relying on the interest they earned on their spare cash to help them pay off their outstanding bonds.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com