Fed report puts municipals at $3.73 trillion at end of first quarter

By Susanna Moon

Chicago, June 9 – The Federal Reserve saw the total amount of municipal securities and loans outstanding rise to $3.73 trillion at the close of the first quarter of 2016, compared with the $3.71 trillion at the end of last year.

Of the outstanding amount, $2.97 trillion was issued by state and local governments, followed by $540.1 billion issued by non-financial corporate businesses and $219.9 billion issued by households and non-profit organizations, according to the Z.1 flow and outstandings report released by the Federal Reserve on Thursday.

The total amount of municipals was $3.69 trillion at the close of the first quarter of 2015, $3.66 trillion at the end of the first quarter in 2014, $3.67 trillion at the end of 2013 and $3.71 trillion at the end of 2012.

Meanwhile, state and local government debt rose at an annual rate of 2.2% in the first quarter, up from an annual growth rate of 0.5% in the previous quarter, according to the report.

Federal government debt grew 4.6% at a seasonally adjusted annual rate in the first quarter.

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