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A municipal bond, commonly known as a muni, is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often, but not always, exempt from federal and state income taxation.
The T. Rowe Price Tax-Free High Yield Fund seeks a high level of income that is exempt from federal income tax by investing in long-term municipal securities with a low to upper-medium investment ...
As an investment, municipal bonds provide a steady stream of income through interest payments, with the principal returned upon maturity. The tax-exempt status makes them attractive to individuals ...
Participants in a government investment pool may include state or local municipalities, counties, school districts, utility districts, and local government units. State laws or GIP rules and procedures govern the types of participants that can invest in a GIP. Multiple GIPs can be created within a single state.
The label fund accounting has also been applied to investment accounting, portfolio accounting or securities accounting – all synonyms describing the process of accounting for a portfolio of investments such as securities, commodities and/or real estate held in an investment fund such as a mutual fund or hedge fund.
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The MSRB was created by the Section 15B of the Securities Exchange Act of 1934 (as amended by the Securities Acts Amendments of 1975, Pub. L. 94–29, and codified at 15 U.S.C. § 78o-4(b)) to create a mechanism for the regulation of municipal securities as well as brokers, dealers, and banks in the municipal securities business.
Typically, markets which make extensive use of IDBs include the corporate bond, fixed income derivatives, U.S. Government and Agency, municipal securities and emerging markets. Inter-dealer brokers play varying roles in each of the fixed income markets and have become instrumental to their effectiveness and efficiency.