Series 53: Depository Eligibility Registration: Issuers

Depository Eligibility Registration: Issuers

Issuers of municipal securities must apply for new issue eligibility at a securities depository registered with the SEC, such as the DTC, no later than one business day after they formally award the securities to an underwriter or, with a negotiated sale, after a bond purchase agreement has been executed (the Time of Formal Award).

For each new municipal issue being considered for eligibility, the DTC requires the following documentation for its initial review of eligibility criteria:

• • Preliminary offering document
• • Eligibility Questionnaire—Specifies the basic details of the issue, such as the offering amount and issue price, CU