Bond Market Association
In this article, we are going to address the topic of Bond Market Association with the aim of exploring its various facets and delving into its meaning and relevance today. Bond Market Association is a topic that has aroused the interest of experts and the general public, due to its impact on different aspects of daily life. Throughout history, Bond Market Association has played a crucial role in society, and its influence remains significant today. Through this article, we will seek to shed light on the different aspects of Bond Market Association, analyzing its evolution over time and its relevance in the contemporary world.
The Bond Market Association (TBMA, previously Public Securities Association or PSA until 1997) was the international trade association for the bond market industry, with its headquarters located in New York City and offices in London and Washington, D.C. Twenty per cent of the membership was located outside the United States, while 70 per cent was located outside New York City. TBMA acted as a global voice for bond issuers and traders, and coordinated with governments, corporations, and investors. It also had a code of ethics, which required members to behave in a fashion of fairness. On November 1, 2006, The Bond Market Association merged with the Securities Industry Association to form the Securities Industry and Financial Markets Association.[1]
Subprime mortgage role
TBMA marketed informational publications on the subject of CMOs. Early versions of its booklet "An Investor's Guide to Collateralized Mortgage Obligations (CMOs)" failed to include credit default among the risks to CMO investors.[2]
Notes
- ^ "Our History" (PDF). Securities Industry and Financial Markets Association. Retrieved October 30, 2017.
- ^ An Investor's Guide to Collateralized Mortgage Obligations (CMOs). The Bond Market Association. 2001.