Understanding and Calculating Arbitrage RebateNo prerequisite; however, this course assumes that students will have a basic understanding of debt management and present and future value calculations.
Course Level: Advanced CPE Credits: 8
1 Day 9 a.m. - 5 p.m.
Who Will BenefitGovernment finance officers responsible for the debt issuance and debt management functions. ProgramParticipants will take an in-depth look at the regulations as well as receive practical guidance on implementing some of the more complex provisions of arbitrage rebate. You will gain a basic working knowledge of the regulations, learn what it takes to comply with IRS requirements, and discover the common pitfalls and problems with their implementation. Seminar Objectives- Learn what arbitrage is
- Review history of arbitrage regulations
- Calculate arbitrage
- Define terms and concepts:
- Purpose/non-purpose investments
- Government bonds
- Private activity bonds
- Hedge bonds
- Reimbursement bonds
- Temporary periods
- Transferred proceeds
Learning Objectives
Those who successfully complete the seminar should be able to: - Define general rebate requirements.
- Determine if an issuer satisfies an exception to rebate requirements.
- Calculate net investment cash flow.
- Calculate arbitrage rebate.
- Identify how yield restriction integrates with arbitrage rebate.
- Identify investment bidding rules, including: yield burning rules, bid specification requirements, and record retention requirements.
- Identify the policies and procedures necessary to administer an arbitrage compliance program.
Registration FeesGFOA member: $370 Nonmember: $550 View current training schedule
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