Lower tax revenues hit 'muni' monolines

Continuing fiscal strain has heightened concerns over the fate of the new municipal monoline bond insurers.

A recent study by the US Government Accountability Office projects that the operating deficits of US state and local governments will rise to $312 billion in the next two years - $131 billion this year, and $181 billion in 2010. This is a sharp rise from the GAO's November estimate that the total operating deficit would be between $100 billion and $200 billion.

The pressure on municipalities

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: