FRB Revises Municipal Liquidity Facility Term Sheet to Include Pricing Methodology

The Federal Reserve Board ("FRB") revised its Municipal Liquidity Facility ("MLF") term sheet to include a pricing methodology.

As previously covered, the MLF will purchase up to $500 billion in short-term notes issued by U.S. states, cities and counties that meet certain population thresholds. In the updated MLF term sheet, the FRB added a pricing appendix to provide further information on taxable and tax-exempt eligible notes.