Series 50: SIFMA Municipal Swap Index

Taken from our Series 50 - MSRB Municipal Advisor Representative Qualification Exam

Definition of the term SIFMA Municipal Swap Index...

formerly known as the Bond Market Association (BMA) index is an index of tax-exempt 7-day floating rate municipal notes, that is reset weekly. Most tax-exempt VRDOs are benchmarked to this index. 

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