New York City's budget office, comptroller and financing authorities have selected new underwriting groups for future municipal bond sales. The process created separate pools for general-obligation and Transitional Finance Authority transactions and for Municipal Water Finance Authority borrowing.
Twelve firms are eligible to serve as book-running senior managers for city and TFA deals. Eight were selected for the first round of eight transactions, while other members can serve as co-managers. The agencies say assignments can change after each round based on ideas, coverage and performance during sales.
The water authority pool contains ten potential book-running firms, with four selected for the first four transactions. Seventeen additional firms were named as co-managers for city and TFA deals. A roster establishes eligibility and roles; it does not by itself set the size, rate or timing of a particular bond issue.
Rotating assignments can broaden participation while allowing the issuers to assess execution. Investors and residents should look to each transaction's official statement for debt terms and use of proceeds. The city announcement is an organizational decision, not an offer to sell securities or an endorsement of any firm.
Primary sources: NYC financing entities underwriter announcement. Reviewed November 12, 2026. Development: Underwriter groups announced November 10, 2026.