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Bank News
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October 1, 2008
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Commerce Bank, Kansas City, has announced plans to purchase auction-rate securities from its customers. The action is being taken in an effort to meet the liquidity needs of its customers who have purchased auction-rate securities from the bank and have been affected by the collapse ofthat market.

Commerce Bank and Commerce Brokerage Services Inc. will offer to repurchase the auction-rate securities.

While Commerce considers auction-rate securities to be high quality, investment -grade instruments with a fair rate of return, in February of this year, the auction-rate securities market became illiquid and auctions failed.

Commerce said it has followed this situation closely and has been ...

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