A Network of the National Association of State Treasurers



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Policy Update

Federal Reserve Bank building in Washington, D.C.

Mnuchin Signals End of Municipal Liquidity Facility

Today, Treasury Secretary Mnuchin sent a letter to Federal Reserve Chairman Powell requesting that unused Exchange Stabilization Fund (ESF) money from the CARES Act be returned to the U.S. Treasury...


Navigating the Current Recession

Experts and colleagues will discuss how states are using reserves and other budget adjustments to navigate through the current recession. A rating agency representative will discuss tax revenue volatility, how...


Understanding and Keeping Up with the Markets through COVID 19

Throughout the spring, municipal market spreads underwent historic swings and primary issues ground to a halt for several weeks. The volatility was sparked by stay-at-home orders across the nation and...