Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 220

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 220
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 from daily to up to one year) to some prevailing market rate for similar investments, such adjustment formula being calculated to
maintain the market value of the VRDOs, at approximately the par value of the VRDOs on the adjustment date. The adjustments typically are based upon SIFMA or some other appropriate interest rate adjustment index. MVF may invest in all types of tax
exempt instruments currently outstanding or to be issued in the future which satisfy its short term maturity and quality standards. VRDOs that contain an unconditional right of demand to receive payment of the unpaid principal balance plus accrued
interest on a notice period exceeding seven days may be deemed to be illiquid securities.

Certain MVF Municipal Bonds may carry variable
or floating rates of interest whereby the rate of interest is not fixed but varies with changes in specified market rates or indices, such as a bank prime rate or tax-exempt money market indices.

While the various types of notes described above as a group represent the major portion of the
tax-exempt note market, other types of notes are available in the marketplace and MVF may invest in such other types of notes to the extent permitted under its investment objective, policies and limitations.
Such notes may be issued for different purposes and may be secured differently from those mentioned above.

MVF’s investment
policies provide that the Temporary Investments and VRDOs in which MVF may invest will be in the following rating categories at the time of purchase: MIG-1/VMIG-1
through MIG- 3/VMIG-3 for notes and VRDOs and Prime-1 through Prime-3 for commercial paper (as determined by Moody’s), SP-1 through SP-2 for notes and A-1 through A-3 for VRDOs and commercial paper (as determined
by S&P), or F- 1 through F-3 for notes, VRDOs and commercial paper (as determined by Fitch). Temporary Investments, if not rated, must be of comparable quality in the opinion of the Investment Advisor. In
addition, MVF reserves the right to invest temporarily a greater portion of its assets in Temporary Investments for defensive purposes, when, in the judgment of the Investment Advisor, market conditions warrant.

Strategic Transactions and Other Management Techniques

MVF may purchase and sell futures contracts, enter into various interest rate transactions and swap contracts (including, but not limited to,
credit default swaps) and may purchase and sell exchange-listed and OTC put and call options on securities