Series 52: 4.4.1.3.2. SIFMA Index And LIBOR

Taken from our Series 52 Online Guide

4.4.1.3.2. SIFMA Index and LIBOR

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 based on projections of future short-term interest ra

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