WASHINGTON -- The amount of tax-exempt interest reported by individual taxpayers in 1989 surged 18.4% or $6 billion, to #38.8 billion, according to a report to be released Friday by the Internal Revenue Service.

The figures confirm what many in the municipal market have known for some time -- that individual investors are buying more tax-exempt bonds and taking p the slack left by the departure of commercial banks from the market, industry officials said yesterday.

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.