Escrow accounts: issuers must maintain structured payment mechanisms and designated accounts for municipal debt servicing as specified by regulator. Issuers of municipal debt securities must establish a structured payment mechanism and maintain designated escrow accounts for debt servicing as specified by the Board; the current provision substitutes an earlier regime that required creation of charges on assets or receivables, limits on secured issuance relative to asset value, undertakings concerning encumbrances or creditor consent, and a prohibition on utilising issue proceeds before security documents are executed.