Several top Wall Street executives are discussing an industrywide ban on at least some political contributions to public officials who select firms for municipal bond transactions, industry sources say.

The move, which could mark the first time the industry has taken matters in its own hands to limit or eliminate campaign contributions, is designed to bolster the municipal market's image following numerous reports that bond firms are expected, almost as a matter of course, to make large campaign contributions to politicians who select bond underwriting syndicates.

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