TITLE

Chicago FHLB Tells IRS to End Payments on LOC-Backed Bonds

AUTHOR(S)
Barnett, Susanna Duff
PUB. DATE
November 2003
SOURCE
Bond Buyer;11/21/2003, Vol. 346 Issue 31767, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports that the Federal Home Loan Bank of Chicago has asked the Treasury and Internal Revenue Service (IRS) to stop their practice of imposing monetary penalties on letters of credit-backed bonds in the U.S. Inquiry conducted by IRS into transactions where tax-exempts bonds were backed by letters of credit; Settlements between the IRS and issuers of the transactions through the voluntary compliance agreement program.
ACCESSION #
11502281

 

Related Articles

  • Competitive note offerings.  // Bond Buyer;12/07/99, Vol. 330 Issue 30782, p12 

    Presents data on competitive note offerings in the United States for December 7 to 21, 1999. Includes issuer; State; Description; Amount; Time of sale; Financial adviser; Legal opinion; Maturing; Insurer.

  • Birmingham, Ala. deal offers `double' security. Gallo, Pete // Bond Buyer;07/07/97, Vol. 321 Issue 30181, p2 

    Reports on the objectives of Birmingham, Alabama in security a letter of credit from AMBAC Capital Corp. for its $74.8 million floating-rate general obligation bond issue.

  • RRC to reimburse operators. Mills, Alex // Fort Worth Business Press;8/15/2003, Vol. 16 Issue 31, p8 

    Reports that approximately 30 operators will be reimbursed for their individual well bonds that have been called by the Railroad Commission (RRC) in Texas as of August 2003. Components of the bonds; Decision of the commissioners to refund proceeds collected from individual well letters of...

  • Issue bonds backed by a letter of credit. Preston, Susan Harringto // Medical Economics;04/14/97, Vol. 74 Issue 8, p66 

    Discusses how physician groups could raise capital by issuing bonds backed by a letter of credit (LOC) in the United States. Requirements needed to qualify for a letter of credit; Terms and conditions in a letter of credit agreement; Investment returns for the banks issuing LOCs to medical...

  • New York City Takes Two-Party Approach to Jay St. Development. McKaig, Ryan // Bond Buyer;05/08/2001, Vol. 336 Issue 31134, p1 

    Reports the use of a 'two-party pay system' for the Jay Street deal in New York City. Use for separately rated entities; Influence of letters of credit in bond rating; Generation of higher ratings to bonds with dual guarantors.

  • LOC-Backed Bonds on Rise as Auction-Rate Surge Slows. Walker, Susanne; Albanese, Elizabeth // Bond Buyer;9/9/2004, Vol. 349 Issue 31965, p7 

    Reports on the increase of letters of credit-backed bonds in the U.S. Auction rates; Enhancement of variable-rate deals.

  • The Top 37 Economic Development Authority Lenders, Bond Purchasers and Underwriters. Shankar, Amita // njbiz;8/11/2003, Vol. 16 Issue 32, p21 

    Lists the top 37 banks that purchased bonds or provided letter of credit for bonds, acted as underwriters or participated as lenders in Economic Development Authority lending and guarantee programs in New Jersey as of December 31, 2002.

  • In the Northeast, New Money Drove Volume Growth in 2003. McDonald, Michael; D'Ambrosio, Gillian; Piazzia, Johanna // Bond Buyer;2/9/2004, Vol. 347 Issue 31817, p1 

    Reports on the impact of refundings and interest-rate swapping on the growth of the bond market in New York and New Jersey. Use of swaps by the issuers in helping diversify offerings through bringing variable-rate deals to the primary market; Percentage decrease in the volume of letters of...

  • Calif. Energy Woes Could Cost Banks $1B.  // American Banker;1/26/2001, Vol. 166 Issue 18, p20 

    Reports on the money that several major banking companies could lose because they have letters of credit backing Pacific Gas and Electric Corp.'s bonds. Amount of money that interest payments on seven of eight bonds totals; Banks involved; Brief explanation of a letter of credit.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics