Transcription of Municipal Swaps: Realities and Misconceptions
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Municipal Swaps: Realities and Misconceptions
61 Broadway New York, NY 10006 swaps : Realities and MisconceptionsWashington, 11, 20122 Bird s Eye View of Municipal FinanceSignificant segment of fixed income market50,000 issuers, outstanding debt $ trillion2 million individual bondsIssuers rely on external advice for transactions Financial advisors for bonds, Swap advisors for swaps Industry regulated by the MSRB and the SECMSRB G-17 requires dealers and advisors to deal fairly Under Dodd-Frank advisors will require certificationLargest trade association is the GFOAR ecommends best practice 3 Perspective.
Municipal Swaps: Realities and Misconceptions Washington, D.C. December 11, 2012. 2 Bird’s Eye View of Municipal Finance Significant segment of fixed income market ... The swap dealer obviously will charge what the market will bear. Unfortunately, the municipality’s grossly overcompensated
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