Underwriter Pool Announcement

Underwriter Pool

At its meeting on April 28, 2026, the NJEFA Board approved a resolution terminating the Underwriter Pools effective July 1, 2026. Authority Staff recommended the elimination of the Underwriter Pools to expand opportunity and promote competition among firms and to increase banking coverage for both the Authority and the State's institutions of higher education. Underwriter RFPs that are issued before June 30, 2026, will follow current procurement procedures and will be distributed to the established Underwriter Pools. All underwriter RFPs that are issued after June 30, 2026, will be posted to the State's website, the NJEFA website, advertised in The Bond Buyer, and broadly disseminated to a distribution list of underwriters, which may include members of the prior Underwriter Pools. All firms are encouraged to submit proposals for future procurements.