MMA’s deep industry knowledge, data, creativity, vision have benefitted clients since 1995.
Municipal Market Analytics (MMA) is an independent research firm based in Concord, Massachusetts, founded in 1995. MMA’s core business is to provide strategic market and credit analysis and commentary on current, historical and quantitative conditions of the US municipal sector. In 2012, MMA introduced the Portfolio Credit Benchmark (PCB), an enterprise risk solution for bank portfolios to meet their regulatory needs pertaining to the credit review of municipal bonds. Also in 2012, MMA established its professional consulting division that provides independent analysis on important municipal issues. The division’s projects have involved municipal risk and liquidity management, credit risk assessments and default/loss modeling.
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Concord, MA 01742
MMA’s analytical publications are targeted to cover specific aspects of the municipal market. The publications are led by different members of the MMA professional team but often involve collaboration so that MMA’s clients derive the full benefit of the firm’s expertise. Subscriptions to MMA’s publications are tailored to the specific needs of each client. Publications frequency is daily, weekly and monthly. Examples of recent publications are available upon request.
In addition, MMA has been retained to produce white-papers for clients on a variety of topics for the purpose of educating and enhancing market participants’ understanding of risks and opportunities in the municipal market.
MMA has been regularly engaged by foundations, unions, think tanks and hedge funds to serve as a resource on a variety municipal credit and market issues as far ranging as: issuers “willingness” to honor bond contracts, climate change’s potential impact on municipal credit and issuance and finally, the dynamics surrounding specific headline credits such as Detroit, Michigan, Stockton, California, 38 Studios in Providence, Rhode Island, Jefferson Co, Alabama and Puerto Rico.
MMA BANK MUNICIPAL CREDIT SOLUTIONS: Portfolio Credit Benchmark (PCB)
MMA services more than 150 best practice banks to enable them to understand and manage their municipal credit risk. As an independent provider of credit surveillance, MMA has facilitated a thorough review of banks’ municipal bond portfolio credit exposure. MMA’s solution has become a key enterprise risk-management tool that, not only has educated banks on the types and potencies of credit risks in its current municipal holdings, but also has resulted in banks’ successful reviews by all three bank regulators: Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation.
PCB differentiates itself from securities and firms providing comparable services by its independence from the transactions between institutional salespeople and bank personnel. Furthermore, MMA’s outstanding professional credit team combines its experience from dealer, mutual fund and rating agency perspectives in order to articulate relevant and data driven analysis to its clients to ensure successful interaction with regulators, banks’ management and their boards. MMA’s proprietary impairment database uniquely positions the firm to identify risks in a powerful and concise manner that is easily understood by its clients.
In addition, MMA’s bank clients regularly interact with MMA professionals regarding issues in the municipal market and those that impact their portfolio.
MMA’s consulting division provides clients with critical insight and solutions to complex issues associated with the municipal market’s idiosyncratic characteristics. Led by Lisa Washburn, MMA has drawn upon the firm’s broad and in-depth expertise in municipal market function, credit analysis, market history, default trends and legislative issues to solve an eclectic array of issues associated with specialized projects.
As an independent research and analytics firm, MMA is uniquely positioned to offer comprehensive and unbiased actionable insights and creative solutions for clients. Recent MMA’s consulting engagements have included:
Analysis of municipal market conditions and business prospects for the bond insurance industry for potential investors
Default and loss analysis on portfolios of municipal bonds
Risk management analysis to guide policy on capital requirements related to municipal securities
Liquidity analysis of municipal holdings
Development of methodology to prioritize municipal holdings for surveillance purposes
Historical analysis of various states’ budget practices and trends
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