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Footnotes / references[ 1 ][ 2 ] MBIA Inc. is an American financial services company. It was founded in 1973 as the Municipal Bond Insurance Association. It is headquartered in Purchase, New York, and as of January 1, 2015 had approximately 180 employees. [ 3 ] MBIA is the largest bond insurer. [ 4 ][ 5 ]
Where r m = interest rate of municipal bond, r c = interest rate of comparable corporate bond and t = investor's tax bracket (also known as marginal tax rate): [35] = For example, assume an investor in the 38% tax bracket is offered a municipal bond that has a tax-exempt yield of 1.0%.
80. 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.
For example, a $50,000 investment in municipal bonds yielding 2.89% could save an investor in the 35% tax bracket over $500 in federal taxes annually. Along with these tax benefits, municipal ...
Bond insurance. Bond insurance, also known as " financial guaranty insurance ", is a type of insurance whereby an insurance company guarantees scheduled payments of interest and principal on a bond or other security in the event of a payment default by the issuer of the bond or security. It is a form of "credit enhancement" that generally ...
The credit rating is a financial indicator to potential investors of debt securities such as bonds. These are assigned by credit rating agencies such as Moody's, Standard & Poor's, and Fitch, which publish code designations (such as AAA, B, CC) to express their assessment of the risk quality of a bond. Moody's assigns bond credit ratings of Aaa ...
Jersey City's tax base grew by US$136 million in 2017, giving Jersey City the largest municipal tax base in the State of New Jersey. [161] As part of a 2017 revaluation, the city's property tax base is expected to increase from $6.2 billion to $26 billion. [162]
Moody's Aaa Corporate Bond, also known as "Moody's Aaa" for short is an investment bond that acts as an index of the performance of all bonds given an Aaa rating by Moody's Investors Service. This corporate bond is often used in macroeconomics as an alternative to the federal ten-year Treasury Bill as an indicator of the interest rate.