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WALL STREET - (07/19/06) – The Federal Home Loan Banksystem, one of the few acceptable issuers of credit unioninvestments, launched a new long-term offering last week, 30-yearglobal bonds. The 5.50% bonds, due July 15, 2036, were priced at98.656 to yield 5.593%, or 47 basis points over comparable U.S.Treasuries. The FHLBs sold $1.5 billion of the new bonds.Underwriters said 86% of the issue was sold domestically and therest internationally.

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