BMA Rate

BMA Rate is a direct subtype of Interest Rate

aaaaaaaa aaaaaaaa aaaaaaaa aaaaaaaa aaaaaaaa aaaaaaaa aaaaaaaa aaaaaaaa aaaaaaaa aaaaaaaa aaaaaaaa aaaaaaaa aaaaaaaa aaaaaaaa aaaaaaaa aaaaaaaa

with functions BMA Rate Functions, keys BMA Rate keys and example object BMARt

TYPE INCLUSION RELATIONSHIPS

AVAILABLE FUNCTIONS

AVAILABLE CREATE FUNCTION KEYS

TYPICAL OBJECTS OF TYPE BMA Rate

This type represents the US SIFMA Municipal Swap Index, previously called the BMA (Bond Market Association) Index.
This index is published weekly on Wednesdays, reflecting the average rate of issues of tax-exempt variable-rate debt, and provides a benchmark floating rate in municipal swap transactions.
When used on BMA Swap, it is applied (i.e. starts accruing) with one day delay, thus on Thursdays (or later if the applicable Thursday is a holiday).
The BMA index is usually 65%-70% of its taxable equivalent 1-month LIBOR.
This percentage is subject to the risk that marginal tax rates will change or that there will be revisions to the US Tax Code.

Deriscope allows setting a non-USD denomination currency, so that it can be referenced from a non-USD context, such as a non-USD yield curve or a BMA Swap that has a non-USD ibor leg.