WASHINGTON — Municipal issuers took an average of 202 calendar days after the end of fiscal years to disclose their audited financial statements, the Municipal Securities Rulemaking Board found in its first ever report on the timing of disclosures.

The MSRB report, released Tuesday, analyzed disclosures made to EMMA between January 2010 and June 2013 and board found that annual financial information was disclosed an average of 188 calendar days after the end of issuers' fiscal years.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.