Commercial Banks Added $41b to MBS Holdings During 3Q02; Industry Now Holds Record $695b
December 13, 2002
Commercial banks continued their 2002 MBS buying spree during the third quarter, gobbling up a healthy $41.38 billion in new securities and boosting their holdings to a record-high $695 billion level. According to new numbers released just this week by the Federal Deposit Insurance Corp., commercial banks loaded up on both agency MBS and CMO/REMIC product during the third quarter. Importantly,