Welcome to the NFMA

The National Federation of Municipal Analysts (NFMA), founded in 1983, is a not-for-profit association with over 1,200 members throughout the U.S.  The professional focus of our members is on the creditworthiness of municipal bonds.  Since NFMA’s inception, our goals have been:
  • To promote professionalism in municipal credit analysis,
  • Through our educational programs, to further the skill level of our members and to provide a platform by which analysts can exchange ideas,    
  • To advocate, when appropriate, issues of importance to the municipal finance industry, and
  • To facilitate the flow of information among market participants, especially in terms of better issuer disclosure.
In furtherance of these goals, NFMA’s activities include the following:
  • An Annual Conference at which NFMA members and outside experts discuss matters of importance to the municipal bond market.
  • Advanced Seminars, held at least twice yearly.  These seminars focus on one particular and currently relevant topic of interest to municipal credit analysts.   
  • An Introduction to Municipal Credit Analysis, held annually to provide NFMA members and others the tools that are basic to understanding municipal credit concepts and practices.
  • Recommended Best Practices in Disclosure.  This is a series of publications, each of which promotes best disclosure practices for particular sectors of the market such as tax-backed debt or hospital debt. 
  • White Papers, which typically address disclosure practices for newer sectors of the market.  
  • Sponsorship of amicus curiae briefs when doing so supports NFMA’s other goals, especially the goal of better disclosure of municipal credit information.
  • Testifying, when requested to do so, before regulatory and quasi-regulatory entities.      
  • Maintaining regular communication with regulatory agencies, industry groups, and other parties that are active in the municipal bond market.    

Special Events & Notices

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