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To improve transparency of Variable-Rate demand obligations (VRDO's), DAC provides issuers the ability to collect, post and disseminate information. The issuer or borrower may enter data into input fields that post the Name of the Remarketing Agent, the date of the Rate Reset, the Length of the Interest Rate Period, the Interest Rate for the next Reset Period, set due date for expiration of liquidity facilities by type and cross compare rates. This system was originated at the bequest of the Commonwealth of Massachusetts and is freely available to all of DAC Bond issuers and Broker-Dealers alike.
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