bond-basics

Electronic Municipal Market Access (“EMMA”)

A website, operated by the MSRB, designated by the SEC as the official source for municipal Securities data (including disclosures made pursuant to a Continuing Disclosure Undertaking) and Offering Documents.


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  • Webinars
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Hot Topics in Securities

This panel will include practitioners and securities regulators discussing the most pressing federal securities law issues facing the municipal bond market, with a focus on how to implement practical and…

Members of the 2023 NABL Board of Directors on the east steps of the U.S. Capitol Building in Washington, D.C. on May 18, 2023.
Members of the 2023 NABL Board of Directors on the east steps of the U.S. Capitol Building in Washington, D.C. on May 18, 2023.
  • News

NABL Goes to Washington

A recap of the Board of Director’s advocacy meetings in Washington, D.C. on May 17 – 19.

  • Comments

Joint Trades Recommendations for EMMA Enhancements

Joint trades letter offering suggested enhancements to the Municipal Securities Rulemaking Board (MSRB) on its Electronic Municipal Market Access (EMMA) platform.

  • Comments

Comments to the MSRB’s Strategic Plan (Response to Notice 2014-16)

Comments relating to MSRB Regulatory Notice 2014-16 (September 8, 2014) in which the Municipal Securities Rulemaking Board (MSRB)solicited comments on its long-term priorities to help guide the strategic direction of…

  • Comments

Proposed Notice for MSRB Regarding Ratings Recalibration

Letter to the Municipal Securities Rulemaking Board (MSRB) and the U.S. Securities and Exchange Commission (SEC) Office of Municipal Securities (OMS) expressing concern about the potential for market confusion during…

  • Comments

Response to Proposed Establishment of EMMA (SEC Release No. 34-58256)

Response to the Securities and Exchange Commission’s (“SEC”) solicitation of comments relating to its Release No. 34-58256, dated July 30, 2008, on Proposed Rule Change Relating to theEstablishment of a…

Hudson Yards Rail Yards

Start with the Bond Basics

Letter of Credit

A commitment, usually issued by a commercial bank, used to guarantee payment of the payment of the principal and interest on a bond issue.