Issue Briefs

The MSRB summarizes market issues and developments affecting the municipal securities market to inform and educate policymakers and the public.

  • Trends in Municipal Bond Ownership (July 2019)
    The market value of municipal bonds owned by various categories of investors presents an interesting snapshot into market dynamics over time.

  • Regulatory Framework for Municipal Market Derivatives (April 2018)
    Read about the regulatory framework for swaps and other derivatives under the Dodd-Frank Act, and where that framework intersects with the MSRB’s regulatory framework for municipal advisors.

  • Minimum Denominations of Municipal Securities (March 2018)
    Read about historical policy issues and additional considerations related to the use of minimum denominations in the sale of municipal securities.

  • Municipal Securities Market Disclosure
    Read about the regulatory foundation for disclosure in the municipal securities market and an overview of the MSRB’s efforts to facilitate disclosure.

  • Puerto Rico Bond Data and Information
    The MSRB provides trade information and other important data to assist investors and others seeking information on bonds issued by the Commonwealth of Puerto Rico and other issuers within the Commonwealth. 

  • Legal Entity Identifiers
    Effective 2017, the MSRB is an observer member of the Regulatory Oversight Committee for the Global LEI Foundation. The MSRB closely tracks progress related to the implementation of a global LEI and is considering where the use of an LEI may be appropriate for regulatory reporting.

  • Senior Investor Protection
    The protection of senior investors is an important issue for the MSRB given the demographics of the typical municipal bond investor. As most of these individuals are close to or post-retirement age, they may be at a higher risk for diminished capacity and manipulation by heirs or may be an attractive target for unscrupulous financial professionals.

  • Trends in Municipal Bond Ownership
    Federal Reserve Board data show that direct retail municipal bond holdings by households declined between 2007 and 2017.