MSRB Publishes 2009 Municipal Bond Fact Book

Date: April 28, 2010


Contact:             Jennifer A. Galloway, Chief Communications Officer
                         (703) 797-6600




Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) today released its 2009 Fact Book, an annual sourcebook that analyzes trading data and statistics for the $2.8 trillion municipal bond market.  The Fact Book includes analysis on nearly every trade reported to the MSRB by municipal securities dealers in the last five years and provides key municipal market statistics unavailable elsewhere. 

This year’s Fact Book includes for the first time interest rate resets information and trading statistics for auction rate securities and variable rate demand obligations.  The MSRB began collecting this data in 2009. Also new to this year’s Fact Book  are lists of the most actively traded municipal securities  and trading volume for newly issued securities.

The MSRB, which regulates municipal securities dealers, collects and disseminates official data about the municipal securities market as part of its mission to protect and educate investors. The MSRB makes municipal trade data available free of charge on its Electronic Municipal Market Access (EMMA) website. Daily and historical summaries of trade data based on security type, size, sector, maturity, source of repayment and coupon type are housed in EMMA’s Market Statistics section. An electronic version of the MSRB 2009 Fact Book also is available free of charge on EMMA and at

The MSRB’s market information transparency programs promote transparency and access to real-time, municipal market bond information.  EMMA makes this information available to the public for free.  Investors have access to hundreds of thousands of municipal bond offering documents, ongoing disclosures about bonds and transaction prices, as well as educational resources about the municipal bond market.

The MSRB protects investors, state and local governments and other municipal entities, and the public interest by promoting a fair and efficient municipal securities market. The MSRB fulfills this mission by regulating the municipal securities firms, banks and municipal advisors that engage in municipal securities and advisory activities. To further protect market participants, the MSRB provides market transparency through its Electronic Municipal Market Access (EMMA®) website, the official repository for information on all municipal bonds. The MSRB also serves as an objective resource on the municipal market, conducts extensive education and outreach to market stakeholders, and provides market leadership on key issues. The MSRB is a self-regulatory organization governed by a 21-member board of directors that has a majority of public members, in addition to representatives of regulated entities. The MSRB is overseen by the Securities and Exchange Commission and Congress.