Understanding and Calculating Arbitrage Rebate - November 19, 2008
No 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.
Faculty Terence P. Burke, President, Pinnacle Arbitrage Compliance, LLC, Dallas, Texas Joan M. DiMarco, Partner, BondResource Partners, LP, Philadelphia, Pennsylvania Registration FeesGFOA member: $370 Nonmember: $550 Register online Register by fax Hotel Information
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