When this year's municipal bond volume statistics are released in January, the industry plans to take credit in 1991 for more than $630 million of bonds not expected to be sold until at least 1993.

For the first time, contracts for municipal forward delivery products -- deals which for legal reasons underwriters go to great lengths to avoid calling "securities" -- will be counted as just that in the annual ranking of municipal bond underwriters supplied by Securities Data Co./Bond Buyer.

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