Muni Bond Market

REGULATORY AGENCIES  —  RATING AGENCIES  —  ASSOCIATIONS  —  DATA SOURCES

Municipal Market Regulatory Agencies:


Municipal Securities Rulemaking Board

The Municipal Securities Rulemaking Board (MSRB) writes investor protection rules and other rules regulating broker-dealers and banks in the United States municipal securities market, including tax-exempt and taxable municipal bonds, municipal notes, and other securities issued by states, cities, and counties or their agencies to help finance public projects or for other public policy purposes

Securities and Exchange Commission

The U.S. Securities and Exchange Commission (SEC) is an agency of the United States federal government. It holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other things, including the electronic securities markets in the United States.

Financial Industry Regulatory Authority, Inc.

In the United States, the Financial Industry Regulatory Authority, Inc. (FINRA) is a private corporation that acts as a self-regulatory organization (SRO). FINRA is the successor to the National Association of Securities Dealers, Inc.(NASD) and the member regulation, enforcement and arbitration operations of the New York Stock Exchange. It is a self-regulatory organization, a non-governmental organization that performs financial regulation of member brokerage firms and exchange markets. The independent government agency which acts as the ultimate regulator of the securities industry, including FINRA, is the Securities and Exchange Commission.

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Rating Agencies:

Moody's Investors Service

Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides international financial research on bonds issued by commercial and government entities and, with Standard & Poor's and Fitch Group, is considered one of the Big Three credit rating agencies.

Standard & Poor's

Standard & Poor's (S&P) is an American financial services company. It is a division of McGraw Hill Financial that publishes financial research and analysis on stocks and bonds. S&P is known for its stock market indices such as the U.S.-based S&P 500, the Canadian S&P/TSX, the Australian S&P/ASX 200, and India's S&P CNX Nifty. S&P is considered one of the Big Three credit-rating agencies, which also include Moody's Investor Service and Fitch Ratings.[2] Its head office is located on 55 Water Street in Lower Manhattan, New York City.

Fitch Ratings

Fitch Ratings is dual-headquartered in New York, USA, and London, UK. It was one of the three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission in 1975, together with Moody's and Standard & Poor's, and the three are commonly known as the "Big Three credit rating agencies".

Kroll

Kroll is a corporate investigations and risk consulting firm based in Midtown Manhattan, New York City.[2] It was established in 1972. It is the world's leading risk and security consultancy.

DBRS

DBRS is a credit rating agency (CRA) founded in 1976 (originally known as Dominion Bond Rating Service) in Toronto by Mr. Walter Schroeder, who is currently chairman of the ratings agency. DBRS is the largest rating agency in Canada with other offices in New York, Chicago, and London. DBRS comprises three affiliated operating companies – DBRS Limited; DBRS, Inc.; and DBRS Ratings Limited.

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Associations:

SIFMA

The Securities Industry and Financial Markets Association (SIFMA) is a leading securities industry trade group[1] representing securities firms, banks, and asset management companies in the U.S. and Hong Kong. SIFMA was formed on November 1, 2006, from the merger of The Bond Market Association and the Securities Industry Association.[2] It has offices in New York City and Washington, D. C.

National Association of Independent Public Financial Advisors

The National Association of Independent Public Finance Advisors (NAIPFA) is a professional organization limited to firms that specialize in providing financial advice on bond sales and financial planning on public projects of public agencies. NAIPFA member firms must be completely independent of the underwriting of municipal securities by banks and securities dealers. Member firms must also be structured such that financial advice is not incidental to any other service.

National Association of Counties

The National Association of Counties (NACo) is the only national organization that represents county governments in the United States. Founded in 1935, NACo provides essential services to the nation’s 3,069 counties. NACo advances issues with a unified voice before the federal government, improves the public’s understanding of county government, assists counties in finding and sharing innovative solutions through education and research, and provides value-added services to save counties and taxpayers money.

Government Finance Officers Association

The Government Finance Officers Association (or GFOA) is a professional association of approximately 17,500 state, provincial, and local government finance officers in the United States and Canada. GFOA is headquartered in downtownChicago.

Missouri Clean Energy District

MCED or Missouri Clean Energy District was authorized by the state legislature in 2010. The district is a state-wide political subdivision which welcomes all local municipalities and counties as members. Property owners in member communities and counties may apply for PACE financing for energy-saving upgrades and retrofits to their property.

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Market Data:

Electronic Municipal Market Access

The Electronic Municipal Market Access (EMMA) website was established to increase the broad comprehensive access to vital disclosure and transparency information in the municipal securities market. EMMA provides investors with key information about municipal securities, free of charge. The information on EMMA is presented in a manner specifically tailored for retail, non-professional investors who may not be experts in financial or investing matters.

Bloomberg Government Bond Data

Bloomberg L.P. is a privately held financial software, data and media company headquartered in New York City. Bloomberg L.P. was founded by Michael Bloomberg in 1981 with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar[6] and a 30% ownership investment by Merrill Lynch.[7] Bloomberg L.P. provides financial software tools such as an analytics and equity trading platform, data services and news to financial companies and organizations through the Bloomberg terminal (via its Bloomberg Professional Service), its core money-generating product.[8] Bloomberg L.P. also includes a wire service (Bloomberg News), a global television network (Bloomberg Television), a radio station (WBBR), websites, subscription-only newsletters and two magazines: Bloomberg Businessweek and Bloomberg Markets.

Public Finance Matters News Site

Municipal Bond news curation site maintained by Harris Municipal Advisors. Covering current news important to municipal market participants.

ProvidentCapital

Provident Capital provides links to The Bond Buyer's ® 20- Bond Index along with a chart showing the trend of the Bond Buyer's ® 20-Bond Index for the past two years.

FMS

The tables and charts below provide yield rates for AAA, AA and A rated bonds in 10, 20 and 30-year maturity ranges. These rates reflect the approximate yield to maturity that an investor can earn in today's tax-free municipal bond market

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