In response to a request by the Association of Municipalities of Ontario, the province is proposing amendments to O. Reg. 438/97, which regulates how municipalities are allowed to invest in bank debt. Currently local governments cannot hold investments which do not meet minimum credit rating thresholds. The Ministry of Municipal Affairs is recommending that the current minimum threshold be lowered from "AA-" to "A-". You can find out more information about this suggested change here. Interested parties have until October 18, 2015 to comment on this proposal.