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SEC Urges Confidence in Municipal Bond Market. (News Briefs).

* In the aftermath of the terrorist attacks on the World Trade Center and the Pentagon, the Securities and Exchange Commission issued a letter to the municipal market urging participants to "step forward and support the integrity and strength of the municipal bond market." The municipal market has been unsettled since the attacks as a sharp decline in air travel and hotel occupancy has threatened to undermine the stability of revenues pledged for bond payments. The letter emphasized the need for the bond market to remain strong since billions of dollars in new issues will be needed to finance the rebuilding of lower Manhattan. Issuers were encouraged to exceed disclosure limits required by law and to improve the timeliness and accuracy of information in order to restore confidence in their creditworthiness. The SEC issued a similar letter about the Y2K computer conversion. (Source: The Bond Buyer, September 27, 2001.)
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Title Annotation:Securities Exchange Commission
Publication:Government Finance Review
Article Type:Brief Article
Geographic Code:1USA
Date:Dec 1, 2001
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