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For its part, Charles Schwab considers it too early to declare an ongoing downturn, but offered a safe-haven tip given elevated risk: municipal bonds. These fixed-income assets are issued by local ...
(Bloomberg Opinion) -- In an extraordinary attempt to help the economy in the midst of the coronavirus economic downturn, the Federal Reserve’s balance sheet has ballooned to more than $6 ...
Build America Mutual Assurance Company (stylized as Build America Mutual or BAM) is a mutual, monoline bond insurer of essential public-purpose U.S. municipal bonds. Since its inception in July 2012, the company has insured more than $65 billion in par amount for more than 3,300 member-issuers.
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 economic value of bond insurance to the governmental unit, agency, or other issuer of the insured bonds or other securities is the result of the savings on interest costs, which reflects the difference between yield payable on an insured bond and yield payable on the same bond if it was uninsured—which is generally higher.
In a new post at the New York Federal Reserve's blog site, three bank officials took a look at the $3.7 trillion US municipal bond market. After noting that about 75% of US municipal bonds are ...
MBIA is a monoline insurer primarily of municipal bonds and on asset-backed securities and mortgage-backed securities. Financial insurance or Financial Guarantees are a form of credit enhancement. It also provides a fixed-income asset management service with about US$40 billion under management.