1933 Act File No. | 2-57181 |
1940 Act File No. | 811-2677 |
Form N-1A
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | ||||
Pre-Effective Amendment No. | ||||
Post-Effective Amendment No. | 90 | |||
and/or | ||||
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | ||||
Amendment No. | 74 | |||
FEDERATED MUNICIPAL BOND FUND, INC.
(Exact Name of Registrant as Specified in Charter)
Federated Investors Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
(Address of Principal Executive Offices)
(412) 288-1900
(Registrant’s Telephone Number, including Area Code)
Peter J. Germain, Esquire
Federated Investors Tower
Pittsburgh, Pennsylvania 15222-3779
(Name and Address of Agent for Service)
It is proposed that this filing will become effective (check appropriate box): | |||
X | immediately upon filing pursuant to paragraph (b) | ||
on | pursuant to paragraph (b) | ||
60 days after filing pursuant to paragraph (a)(1) | |||
on | pursuant to paragraph (a)(1) | ||
75 days after filing pursuant to paragraph (a)(2) | |||
on | pursuant to paragraph (a)(2) of Rule 485 | ||
If appropriate, check the following box: | |||
This post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
SIGNATURES Pursuant to the requirements of the Securities Act of 1933, and the Investment Company Act of 1940, the Registrant, FEDERATED MUNICIPAL BOND FUND, INC., certifies that it meets all of the requirements for effectiveness of this Amendment to its Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Pittsburgh and Commonwealth of Pennsylvania, on the 12th day of June, 2019. |
FEDERATED MUNICIPAL BOND FUND, INC. |
BY: /s/ George F. Magera George F. Magera, Assistant Secretary |
Pursuant to the requirements of the Securities Act of 1933, this Amendment to its Registration Statement has been signed below by the following person in the capacity and on the date indicated: |
NAME | TITLE | DATE |
BY:/s/ George F. Magera George F. Magera, Assistant Secretary |
Attorney In Fact For the Persons Listed Below | June 12, 2019 |
J. Christopher Donahue *
|
President and Director (Principal Executive Officer) | |
Thomas R. Donahue* | Director | |
Lori A. Hensler* | Treasurer (Principal Financial Officer/Principal Accounting Officer) | |
John T. Collins* | Director | |
G. Thomas Hough | Director | |
Maureen Lally-Green* | Director | |
Charles F. Mansfield, Jr.* | Director | |
Thomas O’Neill* | Director | |
P. Jerome Richey* | Director | |
John S. Walsh* | Director | |
*By Power of Attorney |
Federated Municipal Bond Fund, Inc. (the “Fund”) Class A Shares (the “Classes”) Class B Shares Class C Shares Class F Shares Institutional Shares Class T Shares Post-Effective Amendment No. 90 |
This Post-Effective Amendment is filed for the sole purpose of submitting the XBRL Interactive Data File exhibits for the Risk/Return Summaries of the above-named Fund filed as part of Post-Effective Amendment No. 89 on May 24, 2019. The exhibits filed herewith do not constitute the complete publicly filed disclosure for the Fund, and should be used in conjunction with the complete prospectuses for the Fund. |
Exhibit List for Interactive Data File Submissions.
|
EX-101.INS | INSTANCE |
EX-101.SCH | SCHEMA |
EX-101.CAL | CALCULATION LINKBASE |
EX-101.DEF | DEFINITION LINKBASE |
EX-101.LAB | LABEL LINKBASE |
EX-101.PRE | PRESENTATION LINKBASE |
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Document Type | dei_DocumentType | 485BPOS |
Document Period End Date | dei_DocumentPeriodEndDate | Mar. 31, 2019 |
Registrant Name | dei_EntityRegistrantName | FEDERATED MUNICIPAL BOND FUND INC |
Central Index Key | dei_EntityCentralIndexKey | 0000201801 |
Amendment Flag | dei_AmendmentFlag | false |
Document Creation Date | dei_DocumentCreationDate | May 24, 2019 |
Document Effective Date | dei_DocumentEffectiveDate | May 29, 2019 |
Prospectus Date | rr_ProspectusDate | May 31, 2019 |
Entity Inv Company Type | dei_EntityInvCompanyType | N-1A |
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Class A B C F IS Shares | FEDERATED MUNICIPAL BOND FUND INC | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
<b>Federated Municipal Bond Fund, Inc. (the "Fund")</b> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
<b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Fund's investment objective is to provide for its shareholders a high level of current income which is exempt from federal regular income tax. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
<b>RISK/RETURN SUMMARY: FEES AND EXPENSES</b> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold Class A Shares (A), Class B Shares (B), Class C Shares (C), Class F Shares (F) or Institutional Shares (IS) of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000, or $1,000,000, in certain classes (e.g., A and F classes, respectively) of Federated funds. More information about these and other discounts is available from your financial professional, in the "What Do Shares Cost?" section of the Prospectus on page 17 and in "Appendix B" to this Prospectus. If you purchase the Fund's IS Shares through a broker acting as an agent on behalf of its customers, you may be required to pay a commission to such broker; such commissions, if any, are not reflected in the Example below. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
<b>Shareholder Fees (fees paid directly from your investment)</b> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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<b>Example</b> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. Expenses assuming no redemption are also shown. The Example also assumes that your investment has a 5% return each year and that operating expenses are as shown in the table and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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<b>Portfolio Turnover</b> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 21% of the average value of its portfolio. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
<b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE <br/><br/>What are the Fund's Main Investment Strategies?</b> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Fund's investment objective is to provide for its shareholders a high level of current income which is exempt from federal regular income tax. The Fund pursues its objective by investing its assets so that normally distributions of annual interest income are exempt from federal regular income tax. The Fund's investment adviser ("Adviser") may also invest the Fund's assets in securities whose interest (while exempt from the federal regular income tax) may be subject to (or may be a specific preference item for purposes of) the federal alternative minimum income tax (AMT) for individuals. The Adviser may lengthen or shorten duration from time to time based on its interest rate outlook, but the Fund has no set duration parameters. Duration measures the price sensitivity of a fixed-income security to changes in interest rates. The Fund does not limit itself to securities of a particular maturity range. The Fund also will invest at least a majority of its assets in securities rated investment grade (or unrated securities of comparable quality), and may purchase securities rated below investment grade (or unrated securities of comparable quality), which are also known as junk bonds, up to 49% of its assets. Investment-grade securities are securities that receive investment-grade ratings (i.e., generally ratings in the first, second, third or fourth highest rating category) by a nationally recognized statistical rating organization (NRSRO) or unrated securities of comparable quality. For example, securities rated AAA, AA, A or BBB (including modifiers, sub-categories or gradations) by Standard & Poor's, an NRSRO, would be rated in the first, second, third or fourth ratings category, respectively. Securities rated below investment grade (or noninvestment-grade securities) are securities that do not receive investment-grade ratings (i.e., generally ratings below one of the four highest rating categories) by an NRSRO or unrated securities of comparable quality. For example, securities rated B or BB (including modifiers, sub-categories or gradations) by Standard & Poor's, an NRSRO, would be noninvestment-grade securities. The presence of a ratings modifier, sub-category, or gradation (for example, a (+) or (-)) is intended to show relative standing within the major rating categories and does not affect the security credit rating for purposes of the Fund's investment parameters. The Fund does not have a specific minimum quality rating. The types of securities in which the Fund may principally invest include tax-exempt securities, such as the following types: general obligation bonds, special revenue bonds, private activity bonds, tax increment financing bonds, municipal leases, zero-coupon securities, inverse floaters, municipal mortgage-backed securities, planned amortization classes, variable rate demand instruments, municipal notes and municipal auction rate securities. Certain of the tax-exempt securities in which the Fund invests may be subject to credit enhancement. The Fund also may principally invest in derivative contracts (such as, for example, futures contracts, options contracts and swap contracts) and hybrid instruments to implement its investment strategies. For example, the Fund may use derivative contracts or hybrid instruments in an attempt to benefit from changes in the value of the underlying instrument(s), to gain exposure to the municipal bond sector, to increase or decrease the effective duration of the Fund's portfolio or to hedge against potential losses. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy and are calculated at market value. The Fund also may invest in certain securities or other investments as described herein (such as market discount bonds, credit default swaps and other derivative transactions) that will likely cause the Fund to realize a limited amount of ordinary income or short-term capital gains (which are treated as ordinary income for federal income tax purposes). The Fund will normally invest its assets so that at least 80% of the income that it distributes will be exempt from federal regular income tax. This policy may not be changed without shareholder approval. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
<b>What are the Main (or Principal) Risks of Investing in the Fund?</b> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:
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<b>Performance: Bar Chart and Table<br/><br/>Risk/Return Bar Chart</b> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns for each class averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Federated Municipal Bond Fund, Inc. - A Class | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower. The Fund's A class total return for the three-month period from January 1, 2019 to March 31, 2019, was 3.16%. Within the periods shown in the bar chart, the Fund's A class highest quarterly return was 7.91% (quarter ended September 30, 2009). Its lowest quarterly return was (5.51)% (quarter ended December 31, 2010). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
<b>Average Annual Total Return Table</b> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Fund's IS class commenced operations on July 27, 2017. For the periods prior to the commencement of operations of the Fund's IS class, the performance information shown below is for the Fund's A class. The performance of the A class has not been adjusted to reflect the expenses applicable to the IS class since the IS class has a lower expense ratio than the expense ratio of the A class. The performance of the A class has been adjusted to remove any voluntary waiver of the Fund expenses related to the A class that may have occurred during the periods prior to the commencement of operations of the IS class. The performance shown in the table has been adjusted to reflect differences between the sales loads and charges imposed on the purchase and redemption of the Fund's IS class and A class. In addition to Return Before Taxes, Return After Taxes is shown for the Fund's A class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for A class, and after-tax returns for B, C, F and IS classes will differ from those shown below for A class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plan. (For the Periods Ended December 31, 2018) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Label | Element | Value | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Registrant Name | dei_EntityRegistrantName | FEDERATED MUNICIPAL BOND FUND INC | ||||||||
Prospectus Date | rr_ProspectusDate | May 31, 2019 | ||||||||
Class A B C F IS Shares | FEDERATED MUNICIPAL BOND FUND INC | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | <b>Federated Municipal Bond Fund, Inc. (the "Fund")</b> | ||||||||
Objective [Heading] | rr_ObjectiveHeading | <b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b> | ||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund's investment objective is to provide for its shareholders a high level of current income which is exempt from federal regular income tax. | ||||||||
Expense [Heading] | rr_ExpenseHeading | <b>RISK/RETURN SUMMARY: FEES AND EXPENSES</b> | ||||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold Class A Shares (A), Class B Shares (B), Class C Shares (C), Class F Shares (F) or Institutional Shares (IS) of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000, or $1,000,000, in certain classes (e.g., A and F classes, respectively) of Federated funds. More information about these and other discounts is available from your financial professional, in the "What Do Shares Cost?" section of the Prospectus on page 17 and in "Appendix B" to this Prospectus. If you purchase the Fund's IS Shares through a broker acting as an agent on behalf of its customers, you may be required to pay a commission to such broker; such commissions, if any, are not reflected in the Example below. | ||||||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | <b>Shareholder Fees (fees paid directly from your investment)</b> | ||||||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b> | ||||||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | June 1, 2020 | ||||||||
Fee Waiver Or Reimbursement Over Assets, Later Of Termination Or Next Effective Prospectus | fmsfi_FeeWaiverOrReimbursementOverAssetsLaterOfTerminationOrNextEffectiveProspectus | up to but not including the later of (the "Termination Date"): (a) June 1, 2020; or (b) the date of the Fund's next effective Prospectus. | ||||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | <b>Portfolio Turnover</b> | ||||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 21% of the average value of its portfolio. | ||||||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 21.00% | ||||||||
Expense Breakpoint Discounts [Text] | rr_ExpenseBreakpointDiscounts | You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000, or $1,000,000, in certain classes (e.g., A and F classes, respectively) of Federated funds. | ||||||||
Expense Exchange Traded Fund Commissions [Text] | rr_ExpenseExchangeTradedFundCommissions | If you purchase the Fund's IS Shares through a broker acting as an agent on behalf of its customers, you may be required to pay a commission to such broker; such commissions, if any, are not reflected in the Example below. | ||||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | <b>Example</b> | ||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. Expenses assuming no redemption are also shown. The Example also assumes that your investment has a 5% return each year and that operating expenses are as shown in the table and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: |
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Strategy [Heading] | rr_StrategyHeading | <b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE <br/><br/>What are the Fund's Main Investment Strategies?</b> | ||||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund's investment objective is to provide for its shareholders a high level of current income which is exempt from federal regular income tax. The Fund pursues its objective by investing its assets so that normally distributions of annual interest income are exempt from federal regular income tax. The Fund's investment adviser ("Adviser") may also invest the Fund's assets in securities whose interest (while exempt from the federal regular income tax) may be subject to (or may be a specific preference item for purposes of) the federal alternative minimum income tax (AMT) for individuals. The Adviser may lengthen or shorten duration from time to time based on its interest rate outlook, but the Fund has no set duration parameters. Duration measures the price sensitivity of a fixed-income security to changes in interest rates. The Fund does not limit itself to securities of a particular maturity range. The Fund also will invest at least a majority of its assets in securities rated investment grade (or unrated securities of comparable quality), and may purchase securities rated below investment grade (or unrated securities of comparable quality), which are also known as junk bonds, up to 49% of its assets. Investment-grade securities are securities that receive investment-grade ratings (i.e., generally ratings in the first, second, third or fourth highest rating category) by a nationally recognized statistical rating organization (NRSRO) or unrated securities of comparable quality. For example, securities rated AAA, AA, A or BBB (including modifiers, sub-categories or gradations) by Standard & Poor's, an NRSRO, would be rated in the first, second, third or fourth ratings category, respectively. Securities rated below investment grade (or noninvestment-grade securities) are securities that do not receive investment-grade ratings (i.e., generally ratings below one of the four highest rating categories) by an NRSRO or unrated securities of comparable quality. For example, securities rated B or BB (including modifiers, sub-categories or gradations) by Standard & Poor's, an NRSRO, would be noninvestment-grade securities. The presence of a ratings modifier, sub-category, or gradation (for example, a (+) or (-)) is intended to show relative standing within the major rating categories and does not affect the security credit rating for purposes of the Fund's investment parameters. The Fund does not have a specific minimum quality rating. The types of securities in which the Fund may principally invest include tax-exempt securities, such as the following types: general obligation bonds, special revenue bonds, private activity bonds, tax increment financing bonds, municipal leases, zero-coupon securities, inverse floaters, municipal mortgage-backed securities, planned amortization classes, variable rate demand instruments, municipal notes and municipal auction rate securities. Certain of the tax-exempt securities in which the Fund invests may be subject to credit enhancement. The Fund also may principally invest in derivative contracts (such as, for example, futures contracts, options contracts and swap contracts) and hybrid instruments to implement its investment strategies. For example, the Fund may use derivative contracts or hybrid instruments in an attempt to benefit from changes in the value of the underlying instrument(s), to gain exposure to the municipal bond sector, to increase or decrease the effective duration of the Fund's portfolio or to hedge against potential losses. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy and are calculated at market value. The Fund also may invest in certain securities or other investments as described herein (such as market discount bonds, credit default swaps and other derivative transactions) that will likely cause the Fund to realize a limited amount of ordinary income or short-term capital gains (which are treated as ordinary income for federal income tax purposes). The Fund will normally invest its assets so that at least 80% of the income that it distributes will be exempt from federal regular income tax. This policy may not be changed without shareholder approval. |
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Risk [Heading] | rr_RiskHeading | <b>What are the Main (or Principal) Risks of Investing in the Fund?</b> | ||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:
|
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Risk Lose Money [Text] | rr_RiskLoseMoney | All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. | ||||||||
RIsk Not Insured [Text] | rr_RiskNotInsured | The Shares offered by this Prospectus are not deposits or obligations of any bank, are not endorsed or guaranteed by any bank and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency. | ||||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | <b>Performance: Bar Chart and Table<br/><br/>Risk/Return Bar Chart</b> | ||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns for each class averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. | ||||||||
Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. | ||||||||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | 1-800-341-7400 | ||||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | FederatedInvestors.com | ||||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. | ||||||||
Bar Chart [Heading] | rr_BarChartHeading | Federated Municipal Bond Fund, Inc. - A Class | ||||||||
Bar Chart Does Not Reflect Sales Loads [Text] | rr_BarChartDoesNotReflectSalesLoads | The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower. | ||||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower. The Fund's A class total return for the three-month period from January 1, 2019 to March 31, 2019, was 3.16%. Within the periods shown in the bar chart, the Fund's A class highest quarterly return was 7.91% (quarter ended September 30, 2009). Its lowest quarterly return was (5.51)% (quarter ended December 31, 2010). |
||||||||
Performance Table Heading | rr_PerformanceTableHeading | <b>Average Annual Total Return Table</b> | ||||||||
Performance Table Does Reflect Sales Loads | rr_PerformanceTableDoesReflectSalesLoads | The performance shown in the table has been adjusted to reflect differences between the sales loads and charges imposed on the purchase and redemption of the Fund's IS class and A class. | ||||||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes. | ||||||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plan. | ||||||||
Performance Table One Class of after Tax Shown [Text] | rr_PerformanceTableOneClassOfAfterTaxShown | After-tax returns are shown only for A class, and after-tax returns for B, C, F and IS classes will differ from those shown below for A class. | ||||||||
Performance Table Narrative | rr_PerformanceTableNarrativeTextBlock | The Fund's IS class commenced operations on July 27, 2017. For the periods prior to the commencement of operations of the Fund's IS class, the performance information shown below is for the Fund's A class. The performance of the A class has not been adjusted to reflect the expenses applicable to the IS class since the IS class has a lower expense ratio than the expense ratio of the A class. The performance of the A class has been adjusted to remove any voluntary waiver of the Fund expenses related to the A class that may have occurred during the periods prior to the commencement of operations of the IS class. The performance shown in the table has been adjusted to reflect differences between the sales loads and charges imposed on the purchase and redemption of the Fund's IS class and A class. In addition to Return Before Taxes, Return After Taxes is shown for the Fund's A class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for A class, and after-tax returns for B, C, F and IS classes will differ from those shown below for A class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plan. (For the Periods Ended December 31, 2018) |
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Class A B C F IS Shares | FEDERATED MUNICIPAL BOND FUND INC | A | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 4.50% | ||||||||
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) | rr_MaximumDeferredSalesChargeOverOther | none | ||||||||
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||||
Redemption Fee (as a percentage of amount redeemed, if applicable) | rr_RedemptionFeeOverRedemption | none | ||||||||
Exchange Fee | rr_ExchangeFeeOverRedemption | none | ||||||||
Management Fee | rr_ManagementFeesOverAssets | 0.47% | ||||||||
Distribution (12b-1) Fee | rr_DistributionAndService12b1FeesOverAssets | none | ||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.49% | ||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.96% | ||||||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.12%) | [1] | |||||||
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.84% | ||||||||
Expense Breakpoint, Minimum Investment Required [Amount] | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | $ 100,000 | ||||||||
1 Year | rr_ExpenseExampleYear01 | 544 | ||||||||
3 Years | rr_ExpenseExampleYear03 | 742 | ||||||||
5 Years | rr_ExpenseExampleYear05 | 957 | ||||||||
10 Years | rr_ExpenseExampleYear10 | 1,575 | ||||||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 544 | ||||||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 742 | ||||||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 957 | ||||||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,575 | ||||||||
2009 | rr_AnnualReturn2009 | 13.49% | ||||||||
2010 | rr_AnnualReturn2010 | 0.59% | ||||||||
2011 | rr_AnnualReturn2011 | 11.18% | ||||||||
2012 | rr_AnnualReturn2012 | 8.39% | ||||||||
2013 | rr_AnnualReturn2013 | (4.17%) | ||||||||
2014 | rr_AnnualReturn2014 | 10.03% | ||||||||
2015 | rr_AnnualReturn2015 | 2.66% | ||||||||
2016 | rr_AnnualReturn2016 | 0.47% | ||||||||
2017 | rr_AnnualReturn2017 | 5.07% | ||||||||
2018 | rr_AnnualReturn2018 | 0.07% | ||||||||
Year to Date Return, Label | rr_YearToDateReturnLabel | The Fund's A class total return for the three-month period | ||||||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Mar. 31, 2019 | ||||||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | 3.16% | ||||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | highest quarterly return | ||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Sep. 30, 2009 | ||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 7.91% | ||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | lowest quarterly return | ||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2010 | ||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (5.51%) | ||||||||
1 Year | rr_AverageAnnualReturnYear01 | (4.46%) | ||||||||
5 Years | rr_AverageAnnualReturnYear05 | 2.65% | ||||||||
10 Years | rr_AverageAnnualReturnYear10 | 4.16% | ||||||||
Class A B C F IS Shares | FEDERATED MUNICIPAL BOND FUND INC | B | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||||
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) | rr_MaximumDeferredSalesChargeOverOther | 5.50% | ||||||||
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||||
Redemption Fee (as a percentage of amount redeemed, if applicable) | rr_RedemptionFeeOverRedemption | none | ||||||||
Exchange Fee | rr_ExchangeFeeOverRedemption | none | ||||||||
Management Fee | rr_ManagementFeesOverAssets | 0.47% | ||||||||
Distribution (12b-1) Fee | rr_DistributionAndService12b1FeesOverAssets | 0.75% | ||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.49% | ||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.71% | ||||||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.12%) | [1] | |||||||
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 1.59% | ||||||||
1 Year | rr_ExpenseExampleYear01 | $ 724 | ||||||||
3 Years | rr_ExpenseExampleYear03 | 939 | ||||||||
5 Years | rr_ExpenseExampleYear05 | 1,128 | ||||||||
10 Years | rr_ExpenseExampleYear10 | 1,821 | ||||||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 174 | ||||||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 539 | ||||||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 928 | ||||||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,821 | ||||||||
1 Year | rr_AverageAnnualReturnYear01 | (6.00%) | ||||||||
5 Years | rr_AverageAnnualReturnYear05 | 2.40% | ||||||||
10 Years | rr_AverageAnnualReturnYear10 | 3.93% | ||||||||
Class A B C F IS Shares | FEDERATED MUNICIPAL BOND FUND INC | C | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||||
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) | rr_MaximumDeferredSalesChargeOverOther | 1.00% | ||||||||
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||||
Redemption Fee (as a percentage of amount redeemed, if applicable) | rr_RedemptionFeeOverRedemption | none | ||||||||
Exchange Fee | rr_ExchangeFeeOverRedemption | none | ||||||||
Management Fee | rr_ManagementFeesOverAssets | 0.47% | ||||||||
Distribution (12b-1) Fee | rr_DistributionAndService12b1FeesOverAssets | 0.75% | ||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.49% | ||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.71% | ||||||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.12%) | [1] | |||||||
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 1.59% | ||||||||
1 Year | rr_ExpenseExampleYear01 | $ 274 | ||||||||
3 Years | rr_ExpenseExampleYear03 | 539 | ||||||||
5 Years | rr_ExpenseExampleYear05 | 928 | ||||||||
10 Years | rr_ExpenseExampleYear10 | 2.019 | ||||||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 174 | ||||||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 539 | ||||||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 928 | ||||||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 2.019 | ||||||||
1 Year | rr_AverageAnnualReturnYear01 | (1.64%) | ||||||||
5 Years | rr_AverageAnnualReturnYear05 | 2.76% | ||||||||
10 Years | rr_AverageAnnualReturnYear10 | 3.77% | ||||||||
Class A B C F IS Shares | FEDERATED MUNICIPAL BOND FUND INC | F | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 1.00% | ||||||||
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) | rr_MaximumDeferredSalesChargeOverOther | 1.00% | ||||||||
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||||
Redemption Fee (as a percentage of amount redeemed, if applicable) | rr_RedemptionFeeOverRedemption | none | ||||||||
Exchange Fee | rr_ExchangeFeeOverRedemption | none | ||||||||
Management Fee | rr_ManagementFeesOverAssets | 0.47% | ||||||||
Distribution (12b-1) Fee | rr_DistributionAndService12b1FeesOverAssets | none | ||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.49% | ||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.96% | ||||||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.12%) | [1] | |||||||
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.84% | ||||||||
Expense Breakpoint, Minimum Investment Required [Amount] | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | $ 1,000,000 | ||||||||
1 Year | rr_ExpenseExampleYear01 | 297 | ||||||||
3 Years | rr_ExpenseExampleYear03 | 503 | ||||||||
5 Years | rr_ExpenseExampleYear05 | 626 | ||||||||
10 Years | rr_ExpenseExampleYear10 | 1,266 | ||||||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 197 | ||||||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 403 | ||||||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 626 | ||||||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,266 | ||||||||
1 Year | rr_AverageAnnualReturnYear01 | (1.92%) | ||||||||
5 Years | rr_AverageAnnualReturnYear05 | 3.39% | ||||||||
10 Years | rr_AverageAnnualReturnYear10 | 4.53% | ||||||||
Class A B C F IS Shares | FEDERATED MUNICIPAL BOND FUND INC | IS | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||||
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) | rr_MaximumDeferredSalesChargeOverOther | none | ||||||||
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||||
Redemption Fee (as a percentage of amount redeemed, if applicable) | rr_RedemptionFeeOverRedemption | none | ||||||||
Exchange Fee | rr_ExchangeFeeOverRedemption | none | ||||||||
Management Fee | rr_ManagementFeesOverAssets | 0.47% | ||||||||
Distribution (12b-1) Fee | rr_DistributionAndService12b1FeesOverAssets | none | ||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.24% | ||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.71% | ||||||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.12%) | [1] | |||||||
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.59% | ||||||||
1 Year | rr_ExpenseExampleYear01 | $ 73 | ||||||||
3 Years | rr_ExpenseExampleYear03 | 227 | ||||||||
5 Years | rr_ExpenseExampleYear05 | 395 | ||||||||
10 Years | rr_ExpenseExampleYear10 | 883 | ||||||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 73 | ||||||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | 227 | ||||||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | 395 | ||||||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 883 | ||||||||
1 Year | rr_AverageAnnualReturnYear01 | 0.22% | ||||||||
5 Years | rr_AverageAnnualReturnYear05 | 3.59% | ||||||||
10 Years | rr_AverageAnnualReturnYear10 | 4.63% | ||||||||
Class A B C F IS Shares | FEDERATED MUNICIPAL BOND FUND INC | Return After Taxes on Distributions | A | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
1 Year | rr_AverageAnnualReturnYear01 | (4.58%) | ||||||||
5 Years | rr_AverageAnnualReturnYear05 | 2.62% | ||||||||
10 Years | rr_AverageAnnualReturnYear10 | 4.14% | ||||||||
Class A B C F IS Shares | FEDERATED MUNICIPAL BOND FUND INC | Return After Taxes on Distributions and Sale of Fund Shares | A | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
1 Year | rr_AverageAnnualReturnYear01 | (1.46%) | ||||||||
5 Years | rr_AverageAnnualReturnYear05 | 2.75% | ||||||||
10 Years | rr_AverageAnnualReturnYear10 | 4.05% | ||||||||
Class A B C F IS Shares | FEDERATED MUNICIPAL BOND FUND INC | S&P Municipal Bond Index (reflects no deduction for fees, expenses or taxes) | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
1 Year | rr_AverageAnnualReturnYear01 | 1.36% | [2] | |||||||
5 Years | rr_AverageAnnualReturnYear05 | 3.89% | [2] | |||||||
10 Years | rr_AverageAnnualReturnYear10 | 5.11% | [2] | |||||||
Class A B C F IS Shares | FEDERATED MUNICIPAL BOND FUND INC | S&P Municipal Bond 3-Year Plus Index (reflects no deduction for fees, expenses or taxes) | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
1 Year | rr_AverageAnnualReturnYear01 | 1.28% | [3] | |||||||
5 Years | rr_AverageAnnualReturnYear05 | 4.49% | [3] | |||||||
10 Years | rr_AverageAnnualReturnYear10 | 5.80% | [3] | |||||||
Class A B C F IS Shares | FEDERATED MUNICIPAL BOND FUND INC | Morningstar Municipal National Long Funds Average | ||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||
1 Year | rr_AverageAnnualReturnYear01 | 0.27% | [4] | |||||||
5 Years | rr_AverageAnnualReturnYear05 | 4.05% | [4] | |||||||
10 Years | rr_AverageAnnualReturnYear10 | 5.25% | [4] | |||||||
|
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Class T Shares | FEDERATED MUNICIPAL BOND FUND INC | |||||||||||||||||||||||||||||||||||||||||
<b>Federated Municipal Bond Fund, Inc. (the "Fund")</b> | |||||||||||||||||||||||||||||||||||||||||
<b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b> | |||||||||||||||||||||||||||||||||||||||||
The Fund's investment objective is to provide for its shareholders a high level of current income which is exempt from federal regular income tax. | |||||||||||||||||||||||||||||||||||||||||
<b>RISK/RETURN SUMMARY: FEES AND EXPENSES</b> | |||||||||||||||||||||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold the Fund's Class T Shares (T). | |||||||||||||||||||||||||||||||||||||||||
<b>Shareholder Fees (fees paid directly from your investment)</b> | |||||||||||||||||||||||||||||||||||||||||
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b> | |||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||
<b>Example</b> | |||||||||||||||||||||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: | |||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||
<b>Portfolio Turnover</b> | |||||||||||||||||||||||||||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 21% of the average value of its portfolio. | |||||||||||||||||||||||||||||||||||||||||
<b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE<br/><br/> What are the Fund's Main Investment Strategies?</b> | |||||||||||||||||||||||||||||||||||||||||
The Fund's investment objective is to provide for its shareholders a high level of current income which is exempt from federal regular income tax. The Fund pursues its objective by investing its assets so that normally distributions of annual interest income are exempt from federal regular income tax. The Fund's investment adviser ("Adviser") may also invest the Fund's assets in securities whose interest (while exempt from the federal regular income tax) may be subject to (or may be a specific preference item for purposes of) the federal alternative minimum income tax (AMT) for individuals. The Adviser may lengthen or shorten duration from time to time based on its interest rate outlook, but the Fund has no set duration parameters. Duration measures the price sensitivity of a fixed-income security to changes in interest rates. The Fund does not limit itself to securities of a particular maturity range. The Fund also will invest at least a majority of its assets in securities rated investment grade (or unrated securities of comparable quality), and may purchase securities rated below investment grade (or unrated securities of comparable quality), which are also known as junk bonds, up to 49% of its assets. Investment-grade securities are securities that receive investment-grade ratings (i.e., generally ratings in the first, second, third or fourth highest rating category) by a nationally recognized statistical rating organization (NRSRO) or unrated securities of comparable quality. For example, securities rated AAA, AA, A or BBB (including modifiers, sub-categories or gradations) by Standard & Poor's, an NRSRO, would be rated in the first, second, third or fourth ratings category, respectively. Securities rated below investment grade (or noninvestment-grade securities) are securities that do not receive investment-grade ratings (i.e., generally ratings below one of the four highest rating categories) by an NRSRO or unrated securities of comparable quality. For example, securities rated B or BB (including modifiers, sub-categories or gradations) by Standard & Poor's, an NRSRO, would be noninvestment-grade securities. The presence of a ratings modifier, sub-category, or gradation (for example, a (+) or (-)) is intended to show relative standing within the major rating categories and does not affect the security credit rating for purposes of the Fund's investment parameters. The Fund does not have a specific minimum quality rating. The types of securities in which the Fund may principally invest include tax-exempt securities, such as the following types: general obligation bonds, special revenue bonds, private activity bonds, tax increment financing bonds, municipal leases, zero-coupon securities, inverse floaters, municipal mortgage-backed securities, planned amortization classes, variable rate demand instruments, municipal notes and municipal auction rate securities. Certain of the tax-exempt securities in which the Fund invests may be subject to credit enhancement. The Fund also may principally invest in derivative contracts (such as, for example, futures contracts, options contracts and swap contracts) and hybrid instruments to implement its investment strategies. For example, the Fund may use derivative contracts or hybrid instruments in an attempt to benefit from changes in the value of the underlying instrument(s), to gain exposure to the municipal bond sector, to increase or decrease the effective duration of the Fund's portfolio or to hedge against potential losses. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy and are calculated at market value. The Fund also may invest in certain securities or other investments as described herein (such as market discount bonds, credit default swaps and other derivative transactions) that will likely cause the Fund to realize a limited amount of ordinary income or short-term capital gains (which are treated as ordinary income for federal income tax purposes). The Fund will normally invest its assets so that at least 80% of the income that it distributes will be exempt from federal regular income tax. This policy may not be changed without shareholder approval. | |||||||||||||||||||||||||||||||||||||||||
<b>What are the Main (or Principal) Risks of Investing in the Fund?</b> | |||||||||||||||||||||||||||||||||||||||||
All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:
| |||||||||||||||||||||||||||||||||||||||||
<b>Performance: Bar Chart and Table<br/><br/> Risk/Return Bar Chart</b> | |||||||||||||||||||||||||||||||||||||||||
The bar chart and performance table below reflect historical performance data for the Fund. The Fund's Class T Shares ("T class") has not yet commenced operations. The Fund currently offers five other classes of shares: Class A Shares ("A class"), Class B Shares, Class C Shares, Class F Shares and Institutional Shares. The T class performance information shown below is for the Fund's A class and has not been adjusted since the T class is expected to have the same net expense ratio as the A class. The bar chart and performance table below are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's T class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. | |||||||||||||||||||||||||||||||||||||||||
Federated Municipal Bond Fund, Inc. - T Class | |||||||||||||||||||||||||||||||||||||||||
The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower. The Fund's T class total return for the three-month period from January 1, 2019 to March 31, 2019, was 3.16%. Within the periods shown in the bar chart, the Fund's T class highest quarterly return was 7.91% (quarter ended September 30, 2009). Its lowest quarterly return was (5.51)% (quarter ended December 31, 2010). | |||||||||||||||||||||||||||||||||||||||||
<b>Average Annual Total Return Table</b> | |||||||||||||||||||||||||||||||||||||||||
The Fund's T class has not yet commenced operations. The T class performance information shown below is for the Fund's A class as described above. In addition to Return Before Taxes, Return After Taxes is shown for the Fund's T class to illustrate the effect of federal taxes on Fund returns. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plan. (For the Periods Ended December 31, 2018) | |||||||||||||||||||||||||||||||||||||||||
|
Label | Element | Value | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |||||||||||
Registrant Name | dei_EntityRegistrantName | FEDERATED MUNICIPAL BOND FUND INC | ||||||||||
Prospectus Date | rr_ProspectusDate | May 31, 2019 | ||||||||||
Class T Shares | FEDERATED MUNICIPAL BOND FUND INC | ||||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | <b>Federated Municipal Bond Fund, Inc. (the "Fund")</b> | ||||||||||
Objective [Heading] | rr_ObjectiveHeading | <b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b> | ||||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund's investment objective is to provide for its shareholders a high level of current income which is exempt from federal regular income tax. | ||||||||||
Expense [Heading] | rr_ExpenseHeading | <b>RISK/RETURN SUMMARY: FEES AND EXPENSES</b> | ||||||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold the Fund's Class T Shares (T). | ||||||||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | <b>Shareholder Fees (fees paid directly from your investment)</b> | ||||||||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b> | ||||||||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | June 1, 2020 | ||||||||||
Fee Waiver Or Reimbursement Over Assets, Later Of Termination Or Next Effective Prospectus | fmsfi_FeeWaiverOrReimbursementOverAssetsLaterOfTerminationOrNextEffectiveProspectus | up to but not including the later of (the "Termination Date"): (a) June 1, 2020; or (b) the date of the Fund's next effective Prospectus. | ||||||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | <b>Portfolio Turnover</b> | ||||||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 21% of the average value of its portfolio. | ||||||||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 21.00% | ||||||||||
Other Expenses, New Fund, Based on Estimates [Text] | rr_OtherExpensesNewFundBasedOnEstimates | Because the Fund's T Shares are new, "Other Expenses" are based on estimated amounts for the current fiscal year. | ||||||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | <b>Example</b> | ||||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: |
||||||||||
Strategy [Heading] | rr_StrategyHeading | <b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE<br/><br/> What are the Fund's Main Investment Strategies?</b> | ||||||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund's investment objective is to provide for its shareholders a high level of current income which is exempt from federal regular income tax. The Fund pursues its objective by investing its assets so that normally distributions of annual interest income are exempt from federal regular income tax. The Fund's investment adviser ("Adviser") may also invest the Fund's assets in securities whose interest (while exempt from the federal regular income tax) may be subject to (or may be a specific preference item for purposes of) the federal alternative minimum income tax (AMT) for individuals. The Adviser may lengthen or shorten duration from time to time based on its interest rate outlook, but the Fund has no set duration parameters. Duration measures the price sensitivity of a fixed-income security to changes in interest rates. The Fund does not limit itself to securities of a particular maturity range. The Fund also will invest at least a majority of its assets in securities rated investment grade (or unrated securities of comparable quality), and may purchase securities rated below investment grade (or unrated securities of comparable quality), which are also known as junk bonds, up to 49% of its assets. Investment-grade securities are securities that receive investment-grade ratings (i.e., generally ratings in the first, second, third or fourth highest rating category) by a nationally recognized statistical rating organization (NRSRO) or unrated securities of comparable quality. For example, securities rated AAA, AA, A or BBB (including modifiers, sub-categories or gradations) by Standard & Poor's, an NRSRO, would be rated in the first, second, third or fourth ratings category, respectively. Securities rated below investment grade (or noninvestment-grade securities) are securities that do not receive investment-grade ratings (i.e., generally ratings below one of the four highest rating categories) by an NRSRO or unrated securities of comparable quality. For example, securities rated B or BB (including modifiers, sub-categories or gradations) by Standard & Poor's, an NRSRO, would be noninvestment-grade securities. The presence of a ratings modifier, sub-category, or gradation (for example, a (+) or (-)) is intended to show relative standing within the major rating categories and does not affect the security credit rating for purposes of the Fund's investment parameters. The Fund does not have a specific minimum quality rating. The types of securities in which the Fund may principally invest include tax-exempt securities, such as the following types: general obligation bonds, special revenue bonds, private activity bonds, tax increment financing bonds, municipal leases, zero-coupon securities, inverse floaters, municipal mortgage-backed securities, planned amortization classes, variable rate demand instruments, municipal notes and municipal auction rate securities. Certain of the tax-exempt securities in which the Fund invests may be subject to credit enhancement. The Fund also may principally invest in derivative contracts (such as, for example, futures contracts, options contracts and swap contracts) and hybrid instruments to implement its investment strategies. For example, the Fund may use derivative contracts or hybrid instruments in an attempt to benefit from changes in the value of the underlying instrument(s), to gain exposure to the municipal bond sector, to increase or decrease the effective duration of the Fund's portfolio or to hedge against potential losses. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy and are calculated at market value. The Fund also may invest in certain securities or other investments as described herein (such as market discount bonds, credit default swaps and other derivative transactions) that will likely cause the Fund to realize a limited amount of ordinary income or short-term capital gains (which are treated as ordinary income for federal income tax purposes). The Fund will normally invest its assets so that at least 80% of the income that it distributes will be exempt from federal regular income tax. This policy may not be changed without shareholder approval. |
||||||||||
Risk [Heading] | rr_RiskHeading | <b>What are the Main (or Principal) Risks of Investing in the Fund?</b> | ||||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:
|
||||||||||
Risk Lose Money [Text] | rr_RiskLoseMoney | All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. | ||||||||||
RIsk Not Insured [Text] | rr_RiskNotInsured | The Shares offered by this Prospectus are not deposits or obligations of any bank, are not endorsed or guaranteed by any bank and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency. | ||||||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | <b>Performance: Bar Chart and Table<br/><br/> Risk/Return Bar Chart</b> | ||||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The bar chart and performance table below reflect historical performance data for the Fund. The Fund's Class T Shares ("T class") has not yet commenced operations. The Fund currently offers five other classes of shares: Class A Shares ("A class"), Class B Shares, Class C Shares, Class F Shares and Institutional Shares. The T class performance information shown below is for the Fund's A class and has not been adjusted since the T class is expected to have the same net expense ratio as the A class. The bar chart and performance table below are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's T class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. |
||||||||||
Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The bar chart and performance table below reflect historical performance data for the Fund.<br/><br/> The bar chart and performance table below are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's T class total returns on a calendar year-by-year basis. | ||||||||||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | 1-800-341-7400 | ||||||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | FederatedInvestors.com | ||||||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. | ||||||||||
Bar Chart [Heading] | rr_BarChartHeading | Federated Municipal Bond Fund, Inc. - T Class | ||||||||||
Bar Chart Does Not Reflect Sales Loads [Text] | rr_BarChartDoesNotReflectSalesLoads | The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower. | ||||||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower. The Fund's T class total return for the three-month period from January 1, 2019 to March 31, 2019, was 3.16%. Within the periods shown in the bar chart, the Fund's T class highest quarterly return was 7.91% (quarter ended September 30, 2009). Its lowest quarterly return was (5.51)% (quarter ended December 31, 2010). |
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Performance Table Heading | rr_PerformanceTableHeading | <b>Average Annual Total Return Table</b> | ||||||||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes. | ||||||||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plan. | ||||||||||
Performance Table Narrative | rr_PerformanceTableNarrativeTextBlock | The Fund's T class has not yet commenced operations. The T class performance information shown below is for the Fund's A class as described above. In addition to Return Before Taxes, Return After Taxes is shown for the Fund's T class to illustrate the effect of federal taxes on Fund returns. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plan. (For the Periods Ended December 31, 2018) |
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Class T Shares | FEDERATED MUNICIPAL BOND FUND INC | T | ||||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 2.50% | ||||||||||
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) | rr_MaximumDeferredSalesChargeOverOther | none | ||||||||||
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||||||
Redemption Fee (as a percentage of amount redeemed, if applicable) | rr_RedemptionFeeOverRedemption | none | ||||||||||
Exchange Fee | rr_ExchangeFeeOverRedemption | none | ||||||||||
Management Fee | rr_ManagementFeesOverAssets | 0.47% | ||||||||||
Distribution (12b-1) Fee | rr_DistributionAndService12b1FeesOverAssets | none | ||||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.49% | [1] | |||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.96% | ||||||||||
Fee Waivers and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.12%) | [2] | |||||||||
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.84% | ||||||||||
1 Year | rr_ExpenseExampleYear01 | $ 345 | ||||||||||
3 Years | rr_ExpenseExampleYear03 | 548 | ||||||||||
5 Years | rr_ExpenseExampleYear05 | 768 | ||||||||||
10 Years | rr_ExpenseExampleYear10 | $ 1,399 | ||||||||||
2009 | rr_AnnualReturn2009 | 13.49% | ||||||||||
2010 | rr_AnnualReturn2010 | 0.59% | ||||||||||
2011 | rr_AnnualReturn2011 | 11.18% | ||||||||||
2012 | rr_AnnualReturn2012 | 8.39% | ||||||||||
2013 | rr_AnnualReturn2013 | (4.17%) | ||||||||||
2014 | rr_AnnualReturn2014 | 10.03% | ||||||||||
2015 | rr_AnnualReturn2015 | 2.66% | ||||||||||
2016 | rr_AnnualReturn2016 | 0.47% | ||||||||||
2017 | rr_AnnualReturn2017 | 5.07% | ||||||||||
2018 | rr_AnnualReturn2018 | 0.07% | ||||||||||
Year to Date Return, Label | rr_YearToDateReturnLabel | The Fund's T class total return for the three-month period | ||||||||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Mar. 31, 2019 | ||||||||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | 3.16% | ||||||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | highest quarterly return | ||||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Sep. 30, 2009 | ||||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 7.91% | ||||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | lowest quarterly return | ||||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2010 | ||||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (5.51%) | ||||||||||
1 Year | rr_AverageAnnualReturnYear01 | (4.46%) | ||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 2.65% | ||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 4.16% | ||||||||||
Class T Shares | FEDERATED MUNICIPAL BOND FUND INC | Return After Taxes on Distributions | T | ||||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||||
1 Year | rr_AverageAnnualReturnYear01 | (4.58%) | ||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 2.62% | ||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 4.14% | ||||||||||
Class T Shares | FEDERATED MUNICIPAL BOND FUND INC | Return After Taxes on Distributions and Sale of Fund Shares | T | ||||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||||
1 Year | rr_AverageAnnualReturnYear01 | (1.46%) | ||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 2.75% | ||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 4.05% | ||||||||||
Class T Shares | FEDERATED MUNICIPAL BOND FUND INC | S&P Municipal Bond Index (reflects no deduction for fees, expenses or taxes) | ||||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 1.36% | [3] | |||||||||
5 Years | rr_AverageAnnualReturnYear05 | 3.89% | [3] | |||||||||
10 Years | rr_AverageAnnualReturnYear10 | 5.11% | [3] | |||||||||
Class T Shares | FEDERATED MUNICIPAL BOND FUND INC | S&P Municipal Bond 3-Year Plus Index (reflects no deduction for fees, expenses or taxes) | ||||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 1.28% | [4] | |||||||||
5 Years | rr_AverageAnnualReturnYear05 | 4.49% | [4] | |||||||||
10 Years | rr_AverageAnnualReturnYear10 | 5.80% | [4] | |||||||||
Class T Shares | FEDERATED MUNICIPAL BOND FUND INC | Morningstar Municipal National Long Funds Average | ||||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 0.27% | [5] | |||||||||
5 Years | rr_AverageAnnualReturnYear05 | 4.05% | [5] | |||||||||
10 Years | rr_AverageAnnualReturnYear10 | 5.25% | [5] | |||||||||
|
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Registrant Name | dei_EntityRegistrantName | FEDERATED MUNICIPAL BOND FUND INC |
Prospectus Date | rr_ProspectusDate | May 31, 2019 |
Document Creation Date | dei_DocumentCreationDate | May 24, 2019 |
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