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Article: The yen and New York City's investment future. (interview with Michael W. Geffrard) (Q and A) (Interview)
- Article from:
- The Bond Buyer
- Article date:
- April 27, 1992
CopyrightCOPYRIGHT 1992 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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With signs emerging that New York City's fiscal crisis may be slowly winding down, the administration of Mayor David N. Dinkins believes the time way be right to test the city's strengthening credit in the global derivatives market. At least that's the plan of Michael W. Geffard, director of the city's office of public finance, who is seriously considering the issuance of yen-denominated debt later this year.
No formal decision has been made, but Mr. Geffrard, who was appointed in September 1991, says the city could issue at least $100 million in these derivative instruments, possibly as early as this summer.
The issuance of the yen-denominated debt ...