White Papers and Reports

MSRB white papers and reports examine municipal market topics and provide data and objective analysis to assist market participants, policymakers and the public in developing a deeper understanding of the municipal securities market.


White Papers

      Self-Regulation and the Municipal Securities Market

As the self-regulatory organization (SRO) created by Congress to promote a fair and efficient municipal securities market, the MSRB published a report summarizing the history of self-regulation in the U.S. capital markets and detailing the advantages of the MSRB’s distinctive SRO model. 

Read the MSRB's report, Self-Regulation and the Municipal Securities Market. 
      Municipal Securities: Financing the Nation's Infrastructure

Read about the role of municipal securities in infrastructure finance and considerations for policymakers seeking to close the $2 trillion infrastructure gap.

Read the MSRB's report, Municipal Securities: Financing the Nation's Infrastructure

Market Data and Analysis

The MSRB is an independent, neutral source of municipal market data. It publishes a variety of municipal market statistics on www.msrb.org and on its Electronic Municipal Market Access (EMMA®) website, a free online database for municipal disclosures and trade data.

   2017 Fact Book

The MSRB publishes its annual Fact Book to provide municipal market participants, policymakers, regulators, academics and others with historical statistics that can be further analyzed to identify market trends and activity.

Read the 2017 Fact Book

View additional MSRB market data reports.