MUNICIPAL BOND Definition

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MUNICIPAL BOND is the general category of securities issued by public entities. Interest income received by investors is usually exempt from federal income taxes.

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TRADE DATE, in securities, is the actual date on which a trade is initiated or executed.

BOOK ENTRY TRANSACTION, in securities, is a transaction that does not entail physical transfer of paper securities. An entry is made on the books of a safekeeping depository showing the beneficial owner of the securities. This has become a standard transaction method for all U.S. Treasury, many U.S. Government agency securities and many tax­able and tax-exempt instruments.

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