Skip to main content
CDIAC icon

California Debt and Investment Advisory Commission 

Arbitrage Risks and Opportunities in the Current Market

Arbitrage Risks and Opportunities in the Current Market

Thursday, March 21, 2024
10:00 AM - 11:30 AM

 

This webinar will discuss arbitrage opportunities in the context of the current market environment and the implications of the presence of positive arbitrage on debt and investment management strategies for public agencies. Speakers will comment on considerations for applying positive arbitrage as a potential cost-saving strategy when issuing or refinancing debt while mindfully complying with the Internal Revenue Service (IRS) requirements for arbitrage rebate and yield restriction. Speakers will also explore different debt structures that utilize positive arbitrage in the context of the rebate process, options to manage arbitrage allowances, the private use of government funds, and IRS audits.

Access the Replay on the Education Portal Transcript Coming Soon Slides Coming Soon

Speakers

  • Craig Hill, Managing Principal, NHA Advisors
  • John Stanley, Partner, Orrick, Herrington & Sutcliffe
  • Simon A. Wirecki, Managing Director, Western Regional Head for Municipal Finance, Jefferies

Continuing Education Credit

  • Certificate of Attendance: CDIAC issues Certificates of Attendance to those who participate in at least 70% of the webinar. Participants can submit their Certificate of Attendance to their governing entity to request credits. CDIAC’s education programs are accepted by many governing entities as certifiable.
  • Certified California Municipal Treasurer (CCMT) Designation: Attendees can submit their Certificate of Attendance to the California Municipal Treasurers Association (CMTA) to earn credits towards the CDIAC training requirement of the CCMT designation from CMTA.
  • County Treasurers/Tax Collectors: Under California Government Code Section 27000.8, CDIAC’s educational programs are a source for California county treasurers, tax collectors, or treasurer/tax collectors to obtain continuing education credits.
  • Minimum Continuing Legal Education (MCLE) Credits: CDIAC is an approved provider of MCLE credits by the California State Bar. This webinar is approved for 1.5 general credits. To request MCLE credits, please email CDIACEducation@treasurer.ca.gov with your Certificate of Attendance.
  • SB 827 (2025–2026): California Government Code Section 53238 as established by SB 827 requires local agency officials to take two hours of fiscal and financial training every two years. CDIAC's educational programs are a source for satisfying these requirements.