WASHINGTON–A congressional committee will wait until after the July 4 break to consider legislation requiring rating agencies to treat municipal bonds the same as corporate bond issues.
The measure, which the House Financial Services Committee has delayed action on until after the Independence Day holiday recess, would also task the Treasury Department with collecting information on mono-line bond insurers.
House Financial Services Committee Chairman Barney Frank, D-Mass., announced the delay at the outset of a markup of several pieces of legislation. He agreed to the delay, he said, in response to a request from Republican committee members who wished to further examine the bill, and because it had only been introduced late last week.
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