ASA Applauds Expansion of Fed's Municipal Liquidity Facility

We applaud the Fed for being open-minded as it continues to structure these new and unprecedented liquidity and credit facilities

WASHINGTON – The American Securities Association (ASA) today applauded the Federal Reserve Board after it announced an expansion of its Municipal Liquidity Facility to include access to financing beyond America’s largest cities and municipalities.

“ASA has been working with the Fed and Members of Congress to ensure a greater share of America’s municipalities have access to financing during this time, and today’s action is a good start that will begin to help some Main Street communities,” said ASA CEO Chris Iacovella. “We applaud the Fed for being open-minded as it continues to structure these new and unprecedented liquidity and credit facilities.”

ASA recently asked the Fed to revisit the Municipal Liquidity Facility’s arbitrary population minimums and urged policymakers to do more to help America’s Main Street communities. Earlier this month, ASA also sent a letter to Fed Chair Powell requesting the Board use its authority to authorize a “Main Street” non-primary dealer credit facility to expand credit for the thousands of issuers in states, towns, and municipalities across the country. To read that letter, click here. 

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ASA’s regional financial services companies work in communities across the country to create jobs, grow the economy, and increase prosperity for all Americans. The ASA exclusively represents the capital market and private client interests of its members and seeks to promote free market principles making it easier to access financial advice and capital. ASA members help Americans save for retirement, provide Main Street businesses with capital to grow, and advise hardworking Americans how to create and preserve wealth. For the latest updates follow @AmerSecurities and learn more at http://americansecurities.org/.