TITLE

Banks' Municipal Portfolios Increased and Appreciated in 2002

AUTHOR(S)
Fine, Jacob
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/21/2003, Vol. 344 Issue 31640, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that bank-qualified U.S. municipal bonds have benefited from a rising tide of demand as U.S. bank municipal bond holdings rose 8.9 percent, by 4.16 billion dollars, to 101.874 billion dollars on a cost basis during 2002. New York-based Citibank, has increased its municipal bond holdings by 710 million dollars on a cost-basis, more than any other bank during 2002. It is followed by LaSalle Bank in Chicago, whose municipal bond holdings rose by 642.17 million dollars. While bank-qualified municipal bond supply remained relatively constant in 2002, demand for the securities picked up, as the banks benefited from the price appreciation on their municipal portfolios.
ACCESSION #
9903019

 

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