Banks tapped the bond market for $800 million on Thursday and Friday, attracted by low rates or attractive swaps into floating-rate payments.

The most notable deal was Norwest Corp.'s $200 million subordinated issue with a rare 30-year maturity. First Union Corp., Republic New York Corp. and J.P. Morgan & Co. issued a total of $600 million of 15-year subordinated.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.