MSRB Issues Build America Bonds Report

Date: July 2, 2009

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


MUNICIPAL SECURITIES RULEMAKING BOARD PUBLISHES REPORT
ON EARLY ISSUANCE OF BUILD AMERICA BONDS

Document Provides Overview of Municipalities Use of New Bonds

Alexandria, VA - The Municipal Securities Rulemaking Board (MSRB) today published a report that reviews issuance and trading activity for the new Build America Bonds, which provide state and local governments with a new method of financing public projects with a federal subsidy.   Municipalities around the country began issuing Build America Bonds in April 2009 after Congress enacted the American Recovery and Reinvestment Act of 2009.

The MSRB's Build America Bonds: Issuance and Trade Activity report identifies which municipalities have taken advantage of the lower borrowing costs made possible by the program and reviews their trading activity.  Issuance and trade data for Build America Bonds are all publicly available on the MSRB's Electronic Municipal Market Access (EMMA) website at www.emma.msrb.org.

The MSRB will soon publish its 2008 Fact Book, a comprehensive reference for trade data and statistics about the municipal bond market.  The MSRB 2008 Fact Book will provide for the first time a compilation of key municipal market statistics unavailable elsewhere, with data on more than 10 million trades made in the last year.

 


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.