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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

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In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Plans & Membership

Our Platform

Expert led content

+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Finance Unlocked to your current platform

Featured Content

More featured content

Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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What is the US Municipal Bond Market?

What is the US Municipal Bond Market?

Tim Skeet

35 years: Debt capital markets

Tim provides a brief overview of muni bonds: who issues them, why investors choose to invest in them, and how these differ to revenue bonds.

Tim provides a brief overview of muni bonds: who issues them, why investors choose to invest in them, and how these differ to revenue bonds.

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What is the US Municipal Bond Market?

2 mins 15 secs

Key learning objectives:

  • Identify who issues Muni bonds

  • Explain the uses and benefits of Muni bonds

  • Describe how they are issued (GO, Revenue)

Overview:

A Muni Bond market is an organised market with its own peculiarities. It’s a $4 trillion-dollar market and has a fully-formed ecosystem of underwriters, dealers, rating agencies, advisors and investors.

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Summary

Who issues Muni bonds?

  1. Cities
  2. Counties
  3. Communities
  4. School districts
  5. Public infrastructure bodies
  6. Utilities

What are the uses of Muni bonds?

The proceeds can go to; building or improving public buildings, including schools, hospitals and affordable housing. Also, transport infrastructure such as building or improving road, rail, port and air transport. Further to this, they can go toward financing environmentally-sustainable projects which improves the fabric of local communities.

Why are they popular amongst investors?

Interest income from coupon payments can benefit from federal and/or state and local tax-exemption From a credit perspective, municipal bonds have a lower default rate than corporate bonds with a similar rating.

How are Muni bonds issued?

General Obligation bonds (GO Bonds):

These are unsecured obligations of the issuer. Investors will buy GO bonds based on their assessment of the creditworthiness of that issuer and their own risk appetite.

Revenue Bonds:

These are bonds whose cash flows are derived from the projects they have financed. Examples include, road, bridge tolls and/or airport fees, or rents.

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Tim Skeet

Tim Skeet

Banker with more than 35 years experience in the financial markets. Tim has been an ICMA board member and an ECBC steering committee member. Tim is a Freeman of the City of London.

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