MSRB Publishes Report On 2009 Build America Bond Activity

Date: February 12, 2010

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


MUNICIPAL SECURITIES RULEMAKING BOARD PUBLISHES
REPORT ON 2009 BUILD AMERICA BOND ACTIVITY

Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) today published Build America Bonds: Issuance and Trade Activity 2009, a report that reviews issuance and trading activity for Build America Bonds during 2009.  

Nearly $64 billion of Build America Bonds were issued in 2009 as state and local governments took advantage of the federal program for financing public projects.  Municipalities began issuing Build America Bonds in April 2009 after Congress enacted the American Recovery and Reinvestment Act of 2009.

The MSRB’s report provides details about the 680 Build America Bonds issued in 2009, including the number and par amount issued by state, and how the proceeds were used.  The report also describes trading activity of Build America Bonds during 2009 and compares their yields to other bonds.

Issuance and trade data for all Build America Bonds are publicly available on the MSRB’s Electronic Municipal Market Access (EMMA) website at www.emma.msrb.org.


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.