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Local Government Funding Agency
A Local Government Funding Agency (LGFA) or Bond Bank is financial institution that serves as a vehicle for local government authorities such as municipalities, county councils and regions to access capital markets for the purpose of jointly procuring credit for public investment projects. The local and/or regional authorities of a country or state typically own the LGFA, sometimes with a minor ownership by the state. It works as a co-operative agency where the participating authorities come together in order to ensure lower interests rates on loans, based on the creditworthiness of the participating members. This co-operation can also help the local authorities to achieve a higher credit rating than if they act independently. The agency normally does not seek to make profits and any surplus is usually reinvested in the activities. LGFAs exist and operate within the borders of the respective countries where they are found. LGFAs by country * Canada ( Municipal Authority of British ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Institution
Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial institutions: # Depository institutions – deposit-taking institutions that accept and manage deposits and make loans, including banks, building societies, credit unions, trust companies, and mortgage loan companies; # Contractual institutions – insurance companies and pension funds # Investment institutions – investment banks, underwriters, and other different types of financial entities managing investments. Financial institutions can be distinguished broadly into two categories according to ownership structure: * Commercial banks * Cooperative banks Some experts see a trend toward homogenisation of financial institutions, meaning a tendency to invest in similar areas and have similar business strategies. A consequence of this might ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Local Government Funding Agency
New is an adjective referring to something recently made, discovered, or created. New or NEW may refer to: Music * New, singer of K-pop group The Boyz Albums and EPs * ''New'' (album), by Paul McCartney, 2013 * ''New'' (EP), by Regurgitator, 1995 Songs * "New" (Daya song), 2017 * "New" (Paul McCartney song), 2013 * "New" (No Doubt song), 1999 *"new", by Loona from '' Yves'', 2017 *"The New", by Interpol from '' Turn On the Bright Lights'', 2002 Acronyms * Net economic welfare, a proposed macroeconomic indicator * Net explosive weight, also known as net explosive quantity * Network of enlightened Women, a conservative university women's organization * Next Entertainment World, a South Korean film distribution company Identification codes * Nepal Bhasa language ISO 639 language code * New Century Financial Corporation (NYSE stock abbreviation) * Northeast Wrestling, a professional wrestling promotion in the northeastern United States Transport * New Orleans Lakefront Ai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sunshine State Governmental Financing Commission
Sunlight is a portion of the electromagnetic radiation given off by the Sun, in particular infrared, visible, and ultraviolet light. On Earth, sunlight is scattered and filtered through Earth's atmosphere, and is obvious as daylight when the Sun is above the horizon. When direct solar radiation is not blocked by clouds, it is experienced as sunshine, a combination of bright light and radiant heat. When blocked by clouds or reflected off other objects, sunlight is diffused. Sources estimate a global average of between 164 watts to 340 watts per square meter over a 24-hour day; this figure is estimated by NASA to be about a quarter of Earth's average total solar irradiance. The ultraviolet radiation in sunlight has both positive and negative health effects, as it is both a requisite for vitamin D3 synthesis and a mutagen. Sunlight takes about 8.3 minutes to reach Earth from the surface of the Sun. A photon starting at the center of the Sun and changing direction ev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maine Municipal Bond Bank
The Maine Municipal Bond Bank is a Local Government Funding Agency A Local Government Funding Agency (LGFA) or Bond Bank is financial institution that serves as a vehicle for local government authorities such as municipalities, county councils and regions to access capital markets for the purpose of jointly procu ... created in 1973 to issue bonds, enabling it to lend to counties, municipalities, school districts, utility districts and other government organizations within the state of Maine. The sale of tax-exempt bonds with the Bank's high credit rating allows these capital project loans to be issued at lower interest rates than would otherwise be available. It was established by the Maine Municipal Bond Bank Act. References External links * Local government finance Banks based in Maine Banks established in 1973 {{Maine-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vermont Municipal Bond Bank
Vermont () is a state in the northeast New England region of the United States. Vermont is bordered by the states of Massachusetts to the south, New Hampshire to the east, and New York to the west, and the Canadian province of Quebec to the north. Admitted to the union in 1791 as the 14th state, it is the only state in New England not bordered by the Atlantic Ocean. According to the 2020 U.S. census, the state has a population of 643,503, ranking it the second least-populated in the U.S. after Wyoming. It is also the nation's sixth-smallest state in area. The state's capital Montpelier is the least-populous state capital in the U.S., while its most-populous city, Burlington, is the least-populous to be a state's largest. For some 12,000 years, indigenous peoples have inhabited this area. The competitive tribes of the Algonquian-speaking Abenaki and Iroquoian-speaking Mohawk were active in the area at the time of European encounter. During the 17th century, French colon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Municipal Bonds Agency
The UK Municipal Bonds Agency (UK MBA) is Local Government Funding Agency that exists primarily to reduce councils' capital long term financing costs in the United Kingdom. It allows local authorities to diversify funding sources and borrow at a lower cost than is available from Central Government via the Public Works Loan Board of the UK Debt Management Office, which is part of HM Treasury. The agency will sell municipal bonds on the capital markets, raising funds that it will then lend to councils. History The UK MBA was founded in 2014. It was founded by, is owned by and lends to Local Authorities within the United Kingdom. As of January 2016, 56 local authorities as well as the LGA and the Greater Manchester Combined Authority, have signed up as shareholders in the UK Municipal Bonds Agency. Shortly before December 2015, a framework document setting out the working of the UK MBA was also distributed to councils with Cambridgeshire County Council becoming the first local ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Works Loan Board
The Public Works Loan Board (PWLB) ( cy, Bwrdd Benthyciadau Gwaith Cyhoeddus) was a statutory body of the UK Government that provided loans to public bodies from the National Loans Fund. In 2020, the PWLB was abolished as a statutory organisation, and its functions were allocated to HM Treasury, where they are discharged through the UK Debt Management Office. The members of the PWLB were known as the Public Works Loan Commissioners. History Exchequer Loan and Bill Commissioners Originally known as Exchequer Loan Commissioners, the Public Works Loan Commissioners were first appointed as an ad hoc body in 1793 to alleviate commercial distress resulting from the trade recession which followed the French Revolutionary Wars. In 1817 another single purpose body of Commissioners, known as Exchequer Bill Commissioners, were appointed to provide relief following the Napoleonic Wars. They were to receive "no fee, reward or emolument or gratuity whatever" and their task was to consider appli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kommuninvest
Kommuninvest is a Swedish Local Government Funding Agency that was set up in 1986 by Lars Andersson, former finance officer of the municipality of Örebro, Sweden. The scheme aims to help municipal governments to raise capital through the issuance of bonds in Europe, Japan and other countries. As a single municipality has little ability to raise capital alone, the Kommuninvest scheme allows many to issue a bond together. As the local governments in Sweden are allowed to alter local taxes when needed, the ability to repay any outstanding debt is close to risk-free, as such the Kommuninvest scheme is rated AAA by both Standard & Poor's and Moody's. This high rating has allowed it to attract investors from around the globe, with roughly US$5billion having been issued in bonds so far. Bonds are issued in Europe and in Japan under the form of Uridashi bonds (bonds issued by foreign entities in the Japanese market in non JPY The is the official currency of Japan. It is the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kommunalbanken
Kommunalbanken Norway (KBN) is a AAA/ Aaa rated local government funding agency 100 per cent owned by the Royal Ministry of Local Government and Regional Development on behalf of the Kingdom of Norway Norway, officially the Kingdom of Norway, is a Nordic country in Northern Europe, the mainland territory of which comprises the western and northernmost portion of the Scandinavian Peninsula. The remote Arctic island of Jan Mayen and the .... Established by an act of Parliament in 1926 as a state administrative body, and started operations in 1927. KBN gained its current status and structure through a conversion act in 1999. KBN is a direct continuation of its predecessor Norges Kommunalbank and has for 85 years been the main provider of credit to the local government sector in Norway. Today, KBN is defined as a state instrumentality serving a public policy function of providing low cost funding to Norwegian municipalities. The agency’s mandate also includes promoting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nederlandse Waterschapsbank
The Nederlandse Waterschapsbank (NWB Bank) ( en, Netherlands water boards bank) is a Dutch specialist financial institution that providing funding for water boards and local government organisations in the Netherlands. It is a Local Government Funding Agency owned by the Dutch Water boards and provinces. It has been using the trading name NWB Bank since 2009. Although a registered bank, it only lends to Dutch government entities and does not provide any services to individuals or companies. NWB has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank. History Starting in the 1950s the water board union regularly lent money to the individual Water Boards. However the union was not well equipped to handle the banking and lending activities and so on December 19, 1952 it decided to set up a separate water board bank to handle this task. The ban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Local Government
Local government is a generic term for the lowest tiers of public administration within a particular sovereign state. This particular usage of the word government refers specifically to a level of administration that is both geographically-localised and has limited powers. While in some countries, "government" is normally reserved purely for a national administration (government) (which may be known as a central government or federal government), the term local government is always used specifically in contrast to national government – as well as, in many cases, the activities of sub-national, first-level administrative divisions (which are generally known by names such as cantons, provinces, states, oblasts, or regions). Local governments generally act only within powers specifically delegated to them by law and/or directives of a higher level of government. In federal states, local government generally comprises a third or fourth tier of government, whereas in unitary state ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
