WASHINGTON -- The municipal bond market is basically healthy despite problems such as the Bridgeport, Conn., bankruptcy and the seizure of bond insurer Mutual Benefit Life Insurance Co., Securities and Exchange Commission Chairman Richard Breeded told a Senate panel yesterday.

"I wouldn't say the municipal bond market is without problems, but in the main, I think it's a market that has proven large, growing, and resilient," Mr. Breeded testified at a Senate Banking Committee hearing on the agency's authorization request for funding for fiscal years 1992-1994.

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