A commercial bank that buys and sells U.S. Treasury securities, municipal bonds, and/or agency securities. Dealer banks are registered with the Municipal Securities Rulemaking Board. Investing in dealer banks is very low risk because the securities they hold are virtually risk-free and often are exempt from taxation.
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A commercial bank that buys and sells municipal securities and/or U.S. government and agency securities.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.