N.Y. Issuers Buy Each Other's VR Debt

October 2008
Bond Buyer;10/14/2008, Vol. 366 Issue 32981, p1
Trade Publication
The article reports that housing bond issuers in New York City have purchased each others variable-rate bonds as interest rates have risen. It reports that New York City Housing Development Corp. has purchased variable-rate bonds worth $150 million from New York State Housing Finance Agency. It is stated that the agencies bought their bonds in the secondary market for their reserve and escrow accounts.


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