TITLE

U.S. Banks Hold $112B of Munis, Though Pace of Growth Slows

AUTHOR(S)
Johnson, Matthew
PUB. DATE
November 2004
SOURCE
Bond Buyer;11/17/2004, Vol. 350 Issue 32012, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents information about the growth in municipal bond holdings at U.S banks for the year 2004. The growth has slowed in the first half, as a slowly improving economy and higher short-term rates encouraged banks to limit duration for their fixed-income related assets. Overall, the amount of municipal bonds held by domestic banks in the first six months in 2004 rose $2.7 billion on a cost basis to $112.03 billion, a 2.5% increase. Bank-qualified municipal bond issuance was down in the first half of 2004 at $8.3 billion, compared to $8.5 billion in 2003.
ACCESSION #
15113195

 

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