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MTA currently has four commercial lines of credit, all of which are taxable revolving credit agreements. The agreements are pursuant to the Transportation Revenue Anticipation Note Resolution, approved by the MTA Board on July 24, 2013, and amended and restated through April 27, 2022. Draws under the credit agreements will be evidenced by revenue anticipation notes (“RANs”).
Commercial Lines of Credit (Summary)
| Total Capacity | Total Drawn | Spent Amount from Draws | Unspent Amount from Draws | Total Undrawn | Liquidity Remaining from Lines of Credit |
|---|---|---|---|---|---|
| $1,300 | $0 | $0 | $0 | $1,300 | $1,300 |
As of April 27, 2026
Revolving Credit Agreements
On August 2, 2022, MTA entered into a taxable revolving credit agreement with JPMorgan Chase Bank, National Association, which was amended on April 15, 2026, to a $400 million credit agreement and extended and is active through April 27, 2029. For more information, see the 2022 revolving credit agreement, as amended by the First Amendment to the 2022 credit agreement, the Second Amendment to the 2022 credit agreement, and the Third Amendment to the 2022 credit agreement.
On August 2, 2022, MTA entered into a taxable revolving credit agreement with Bank of America, National Association, which was amended on November 8, 2024, to a $200 million credit agreement and extended and is active through July 30, 2027. For more information, see the 2022 revolving credit agreement as amended by the First Amendment to the 2022 credit agreement.
On February 4, 2025, MTA entered into a taxable revolving credit agreement with Wells Fargo Bank, National Association, which was amended on April 9, 2026, to a $500 million credit agreement and extended and is active through April 9, 2029. For more information, see the 2025 revolving credit agreement as amended by the First Amendment to the 2025 credit agreement.
On April 27, 2026, MTA entered into a $200 million taxable revolving credit agreement with The Bank of New York Mellon which is active through April 26, 2029. For more information, see the 2026 revolving credit agreement.
Funds on the revolving credit agreements may be used for operational or capital purposes. The following Table 1 will show the draws that have been made and associated repayments on these revolving credit facilities. There have been no draws on the lines of credit since entering into the credit agreements.
Table 1 Working Capital Revolving Credit Facilities
RAN Series |
RAN Bank |
Draw Date |
Draw Amount |
Repayment Date |
Amount Repaid |
Balance Drawn |
|---|
Numbers may not total due to rounding.