The U.S. Treasury created OSLF in 2014 to coordinate research and policy on State and local government finance. OSLF provides analysis and advice to senior Treasury and other Federal officials on events, trends, strategies, and practices in the municipal bond market, and serves as the Treasury’s central point of contact for State and local finance officials, municipal market regulators, standards bodies, rating agencies, bankers, and other market participants.
In addition to its work on municipal bond markets, OSLF provides research and analysis on State and local financing of infrastructure, policy responses to stressed entities, management of public pension and OPEB liabilities, tax issues at all levels of government affecting municipal finance, accounting and actuarial standards, State and local budget formulation and execution, and long term fiscal sustainability. OSLF also leads the U.S. Treasury’s work on Puerto Rico’s debt restructuring and fiscal and economic reforms under PROMESA.
OSLF produces market and issuer analyses, policy proposals, legislative and regulatory analysis, research papers, and briefing memoranda for senior officials, in addition to developing recommendations on emerging policy issues.