Back to top
Date:

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


MSRB ISSUES STATEMENT ON FINANCIAL MARKET DEVELOPMENTS

Alexandria, VA – The Municipal Securities Rulemaking Board is following closely financial market developments and their possible effect on the municipal securities market. The MSRB expects the municipal market to continue to operate in an orderly manner, with other market participants absorbing new issuance activity.

On the secondary market side, while some short-term pressure on prices and interest rates can be expected, the MSRB does not expect longer-term liquidity issues that would impair a robust, secondary municipal market. 

The MSRB does not regulate the derivatives market, but municipal issuers with derivatives contracts may be affected by this week's developments.  Issuers should be aware of the terms of their contracts and may consider ongoing efforts led by the International Swaps and Derivatives Association to work with counterparties.

The MSRB is prepared to provide any necessary assistance to preserve orderly market operations in the municipal market.

The Municipal Securities Rulemaking Board (MSRB) protects and strengthens the municipal bond market, enabling access to capital, economic growth, and societal progress in tens of thousands of communities across the country. MSRB fulfills this mission by creating trust in our market through informed regulation of dealers and municipal advisors that protects investors, issuers and the public interest; building technology systems that power our market and provide transparency for issuers, institutions, and the investing public; and serving as the steward of market data that empowers better decisions and fuels innovation for the future. MSRB is a self-regulatory organization governed by a board of directors that has a majority of public members, in addition to representatives of regulated entities. MSRB is overseen by the Securities and Exchange Commission and Congress.

Print