CHICAGO - PNC Bank Corp. will continue using swaps to manage interest rate sensitivity even after it completes its balance sheet restructuring.

Randall King, senior vice president of PNC's asset and liability management division, said that deals for Midlantic Corp. and branches from Chemical Banking Corp. will virtually eliminate the Pittsburgh-based company's liability sensitivity. But he said the bank will continue using shorter-term swaps to lock in its funding costs.

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