WASHINGTON - The Public Securities Association has asked federal officials to modify certain hedging provisions of the arbitrage rules, saying they present "significant barriers" to the development of the municipal derivatives market.

The PSA asked for the modifications in a memorandum sent to Treasury and Internal Revenue Service officials last week.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.