California Debt and Investment Advisory Commission

COVID-19 Municipal Debt Resources

CDIAC began providing updates in June 2020 on the number of continuing debt disclosures submitted by California public agencies in response to effects from the novel Coronavirus Disease (COVID-19) pandemic.

This page consolidates available information on COVID-19 that relates to municipal debt in one place, so agencies can more quickly and easily educate themselves on these complex issues as they evolve. Follow the links below to jump to sections within this page.

For more information about COVID-19 disclosure concerns and guidance, please see CDIAC's webinar, Navigating Investor Disclosures during the COVID-19 Crisis, issue brief, Top COVID-19 Disclosure Hacks, and CDIAC's COVID-19 Municipal Debt Resources.

Last Updated: December 11, 2020

Upcoming Webinars

No known upcoming COVID-19 webinars that relate to municipal debt.

Recent Webinars

Recent webinars that have free material available are posted below. Additional replays can be found in the Resource Archive.

School District Roundtable Part 2 on COVID-19 Financial and Related Impacts
GFOA | October 13, 2020

Modeling COVID-19 Infection Rates to Inform School Site Closings/Openings
GFOA | September 25, 2020

Public Finance Credit After COVID-19
Moody’s | August 13, 2020

California Local Public Finance Virtual Forum: A Conversation with Treasurer Fiona Ma, CPA
CDIAC and CSMFO | August 12, 2020

School District Roundtable on COVID-19 Financial and Related Impacts
GFOA | August 12, 2020

Fiscal First Aid For School Districts
GFOA | August 7, 2020

2020-21 Economic and Demographic Outlook
CSMFO | July 30, 2020 | Replay

Municipal Utilities Well-Positioned To Withstand COVID-19 Challenges
Moody’s | July 23, 2020 | Replay

Leading Through Crisis
MSRB Podcast | July 21, 2020 | Replay

Social Risks Across Public Finance
Moody’s | July 16, 2020 | Replay

Navigating Your Investment Portfolio Through Tumultuous Times: Best Practices in Response to the 2020 Economic Downturn
CSMFO | July 3 2020 | Replay

Navigating Investor Disclosures During the COVID-19 Crisis
CDIAC | May 1, 2020 | Replay
Replay is free, but registration is required.

Resource Highlights

Recent free resources related to California municipal debt are posted below in the order of date published. Additional materials are located in the Resource Archive.

Municipal Liquidity Facility (MLF) and CARES Act

Letter from Secretary Steven T. Mnuchin on the Status of Facilities Authorized Under Section 13(3) of the Federal Reserve Act
U.S. Department of the Treasury | November 19, 2020

Federal Reserve Board Announces Revised Pricing for Its Municipal Liquidity Facility
Board of Governors of the Federal Reserve System | August 11, 2020

Municipal Liquidity Facility: Frequently Asked Questions
Federal Reserve Bank of New York | October 5, 2020

Coronavirus Relief Fund Frequently Asked Questions
Department of Treasury | Created August 10, 2020, Updated September 2, 2020

Coronavirus Relief Fund Allocations for Cities and Counties
State of California Department of Finance | July 2, 2020

Expansion in the Number and Type of Entities Eligible to Directly Use the MLF
Board of Governors of the Federal Reserve System | June 3, 2020

Municipal Liquidity Facility Sample Purchase Rates
Federal Reserve Bank of New York | 2020

Municipal Liquidity Facility Application Materials
Federal Reserve Bank of New York | May 18, 2020
Note: Notification of Interest updated June 11, 2020 and the Forms Documents and Certifications were updated September 16, 2020

Term Sheet: Municipal Liquidity Facility
Board of Governors of the Federal Reserve System | May 11, 2020

Data Resources

Dashboard - Local Government Tax Revenue

Dashboard - Market Data

EMMA Continuing Disclosure Filings Related to COVID-19
Lumesis | Updated Daily

Municipal Securities Market COVID-19-Related Disclosure Summary
MSRB | Updated Weekly

Municipal Securities Market Trading Summary
MSRB | Updated Daily

Other Articles and Reports

MSRB Provides Additional Regulatory Relief During COVID-19 Pandemic
S&MSRB | December 2, 2020

Credit FAQ: How COVID-19 And The Recession Could Affect Credit Quality For U.S. K-14 Schools
S&P Global Ratings | September 3, 2020

Fiscal First Aid for School Districts: Additional Considerations for Schools Dealing with COVID-19
GFOA | August 2020

Pandemic Upends U.S. State 2021 Budgets (Revenue Outlook Uncertain)
Fitch Ratings | August 5, 2020

COVID-19 Activity in U.S. Public Finance
S&P Global Ratings | Updated Regularly

SEC Order Granting Temporary Conditional Exemption from the Broker Registration Requirements
SEC | June 16, 2020

Application of Antifraud Provisions to Public Statements of Issuers and Obligated Persons of Municipal Securities in the Secondary Market: Staff Legal Bulletin No. 21 (OMS)
U.S. Securities and Exchange Commission | February 7, 2020

COVID-19 Response Related Websites

National and State Associations

Government Offices

Law Firms

Municipal Advisors / Consultants

Rating Agencies


CDIAC Information

Many of these organizations, companies, and professionals are regular and valued contributors to the fulfillment of CDIAC’s educational mission; however, CDIAC does not endorse any particular private company. In addition, the information presented and opinions expressed in the resources and content provided is solely that of the professionals and organizations cited. Resources are provided on this page as a courtesy, and CDIAC does not maintain or validate information provided by external organizations.

Information is frequently changing given the dynamics presented by the COVID-19 crisis. We encourage participation of the California public finance community in curating this page and welcome recommendations. Please contact if you would like to submit suggestions.