In order to facilitate the filing of bank loan disclosures on its Electronic Municipal Market Access (EMMA®) website, the Municipal Securities Rulemaking Board (MSRB) has been working with issuer representatives to enhance the submission process. The MSRB will soon release changes to the website that improve this process for issuers and also enhance the ability of investors to locate available bank loan disclosures on EMMA.
The MSRB strongly encourages state and local governments to voluntarily disclose information about bank loans and other alternative financings to the EMMA website. The MSRB believes that disclosure of alternative financings is important to enable current bondholders and prospective investors to assess a municipal entity’s creditworthiness and evaluate the potential impact of these financings.