Municipal Trustee
From Open Risk Manual
Revision as of 14:10, 24 April 2024 by Wiki admin (talk | contribs)
Definition
A Municipal Trustee is a Financial Institution with trust powers, designated by the issuer or borrower, that acts, pursuant to a bond contract, in a fiduciary capacity for the benefit of the bondholders in enforcing the terms of the bond contract.
In many cases, the trustee also acts as custodian, paying agent, registrar and/or transfer agent for the bonds.
