Drop in Rates Swells the Ranks of State HFAs Using Swaps

McDonald, Michael
May 2004
Bond Buyer;5/19/2004, Vol. 347 Issue 31887, p5
Trade Publication
Reports on the increase in the number of state housing finance agencies (HFA) using interest rate swaps due to the decline in interest rates. Production by the low interest rate environment of a high volume of prepayments and compression between tax-exempt and taxable rates; Implication of the use of interest rate swaps to reduce rates on housing bonds; Use by HFA of commercial paper in addition to swaps.


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