Glossary of Municipal Securities Terms


municipal securities dealer responsible for reselling to investors securities (such as variable rate demand obligations and other tender option bonds) that have been tendered for purchase by their owner. The remarketing agent also typically is responsible for resetting the interest rate for a variable rate issue and may act as tender agent. See: REMARKETING; TENDER AGENT; TENDER OPTION BOND; VARIABLE RATE DEMAND OBLIGATION. Compare: AUCTION AGENT

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