Series 52: 4.4.1.3.2. SIFMA Index, LIBOR, And SOFR

Taken from our Series 52 Top Off Online Guide

4.4.1.3.2.  SIFMA Index, LIBOR, and SOFR

Tax-exempt VRDOs are commonly benchmarked to the SIFMA Municipal Swap Index. This is an index of tax-exempt, 7-day floating-rate municipal notes, and it is reset weekly.

Taxable VRDOs have historically been indexed to the London Interbank Offered Rate (LIBOR), which is

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