MSRB Primer Underscores Role of Municipal Securities in Infrastructure Finance

Date: September 19, 2017

Contact: Jennifer A. Galloway, Chief Communications Officer


Washington, DC – The Municipal Securities Rulemaking Board (MSRB) today published a primer and resource for policymakers that underscores the role of municipal securities in financing infrastructure. Municipal Securities: Financing the Nation’s Infrastructure provides a basic understanding of municipal securities, how the municipal market provides access to capital for over 50,000 state and local governments that own and maintain the majority of public works, and the role of the federal government and public-private partnerships in investing in public infrastructure.

Municipal Securities: Financing the Nation’s Infrastructure is an excellent resource for those interested in finding solutions to close the $2 trillion infrastructure gap,” said MSRB Executive Director Lynnette Kelly. “We want to raise awareness that municipal securities are the primary means of financing public infrastructure and inspire informed policy dialogue.” 

The primer is among the efforts by the MSRB to provide objective information about the role of the municipal securities market. As the self-regulatory organization for this $3.8 trillion capital market, the MSRB serves as a resource on the municipal securities market for members of Congress, their staff and other policymakers seeking objective, authoritative information to help guide policymaking decisions. View additional MSRB resources for policymakers.

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.