BAB market participants debate tracking prices

Participants in the market for Build America Bonds are concerned that they might need to track prices of the bonds to avoid violating restrictions or running afoul of the Internal Revenue Service. "Certainly we have concerns that the uncertainty may affect market liquidity," said Leslie Norwood, associate vice president and general counsel at SIFMA. "It's important to get some more clarity on the rules about issue price for BABs, and particularly we're looking at whether ... this is causing restrictions amongst purchasers of BABs."

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