Glossary of Municipal Securities Terms
Second Edition (January 2004)
This glossary of terms used in the municipal securities industry was developed by the Municipal Securities Rulemaking Board, based on the Glossary of Municipal Bond Terms published by the Division of Bond Finance of the State of Florida in 1983. Although many of the definitions set forth in this edition are still accurate, growth and change in the industry necessitated modifications in the definitions of some terms and the addition of others. The MSRB is currently updating the glossary and plans to publish the third edition in 2013.
The definitions included in this glossary are not official MSRB definitions but instead reflect general usage of the terms as understood by the definition. The MSRB Board of Directors does not review or adopt the definitions and they have no legal authority under MSRB or any other federal securities laws. It should be noted that given different usage of terms in the market, users of the terms should not assume a full understanding of a concept based on the brief definitions provided in the glossary. Many of these terms are also used in other segments of the securities industry and may have a different meaning when used in those other contexts.
The glossary definitions represent the consensus of industry professionals as to the meanings of these terms. The MSRB recognizes that this glossary is limited, as is any glossary, and welcomes suggestions for other terms to be included, as well as comments on definitions set forth in this edition.
|
|
|
|
|
|
Alphabetical Listing of Terms |
|||
|
||||
|
|
Search for Terms |
|
|
||
|
|
||
|
||
