Fed report puts municipals at $3.63 trillion at end of third quarter

By Jennifer Chiou

New York, Dec. 11 – The total amount of municipal securities and loans outstanding was down a tick at $3.63 trillion at the close of the third quarter this year, compared to the $3.66 trillion at the end of the second quarter, according to the Z.1 flow and outstandings report released by the Federal Reserve on Thursday.

In comparison, the amount outstanding stood at roughly $3.69 trillion at the end of the third quarter in 2013. The mark stood at $3.67 trillion at the end of 2013, $3.71 trillion at the end of 2012, $3.72 trillion at the end of 2011, $3.77 trillion at the end of 2010, $3.67 trillion at the end of 2009 and $3.52 trillion at the end of 2008.

Of the $3.63 trillion outstanding at quarter’s end, the majority – $2.89 trillion – was issued by state and local governments, followed by $514.8 billion issued by non-financial corporate businesses and $224.6 billion issued by non-profit organizations.

On the buyside, the household sector held $1.56 trillion of the securities outstanding at the end of the third quarter, followed by mutual funds with $645.4 billion, U.S.-chartered depository institutions with $440.4 billion, property-casualty insurance companies with $326.5 billion and money market mutual funds with $278.7 billion.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.