Bank South cleared to enter muni field.

WASHINGTON - The Federal Reserve Board approved an application by Bank South Corp. of Atlanta, the fourth-largest bank in Georgia, to underwrite and deal in municipal revenue bonds.

Bank South has assets of $4.3 billion and operates banks in Georgia and Florida. The approval allows it to underwrite and deal through a subsidiary in municipal revenue bonds that are rated as investment quality and to provide financial advisory services to states and their agencies.

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