The Municipal Securities Rulemaking Board said Monday that in the wake of Detroit’s bankruptcy filing, investors need to be mindful that not all general obligation bonds carry the same level of security in the event of issuer insolvency.

Though the MSRB does not regulate issuers or have any control over state and local contract laws, the board is interested in the rights of bondholders, said MSRB executive Director Lynnette Kelly said when asked about Detroit.

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