Pass Your FINRA Exam Guaranteed Or Your Money Back With Our Greenlight Guarantee
For more than 25 years we’ve helped students pass over 250,000 exams and we’ve done so with industry leading pass rates!
Pass our Greenlight guaranteed practice exam & we guarantee you’ll pass your exam – or your money back!*
Bond Anticipation Note is short term municipal financing sold in anticipation of long-term financing.
Bond anticipation notes are most often used to even out a municipality’s cash flow. If a municipality is in the process of issuing a municipal bond, but needs cash immediately, it can issue a BAN. The BAN has a maximum maturity of one year. Once the municipal bond is issued the proceeds will be used to pay off the note. Additionally, bond anticipation notes are considered money market securities and they are rated by Moody’s Investment Grade (MIG).