NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) releases this month’s edition of The Bank Treasury Newsletter Chart Deck.
In this issue of Chart Deck, we look at aspects of the U.S debt and equity capital markets and compare activity by U.S. banks to the rest of the world. One of the themes this month is how corporate bond issuance and commercial and industrial loan growth in 2018 and H1 2019 were below trend, perhaps thanks to global trade tensions.
In addition, tax reform had a significant negative impact on the municipal bond market and bank activity in the space. For example, we show bank-qualified municipal bond issuance is down to a 15-year low since the bill’s passage at the end of 2017, while banks have slashed their holdings of municipal bonds by more than one-third.
Bank and bank holding company data used for the graphs were prepared using the new KBRA Analytics software.
To view the chart deck, click here.
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KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.