Series 52: 3.6. Reporting Of Variable Rate Security Underwritings

Taken from our Series 52 Online Guide

3.6. Reporting of Variable Rate Security Underwritings

Recall that variable rate securities are long-term bonds having interest rates that are reset on a short-term basis. Interest rates may be determined by an auction process or by some predetermined index. Interest rates on ARS are periodically reset by Dutch auction. Interest rates on VRDOs are automatically reset on a daily, weekly, or monthly basis.

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