WASHINGTON — The total amount of outstanding municipal securities and loans in the market rose 0.6% to $3.65 trillion in the fourth quarter of last year, as U.S. bank muni holdings increased 2.5% and mutual fund muni holdings rose to a record high of $658 billion.

The Federal Reserve Board released the data this week in its quarterly Flow of Funds report. The total size of the muni market was up from $3.63 trillion in the third quarter of 2014, but the muni market still experienced an overall year-over year decline from $3.67 trillion at the end of 2013. The size of the muni market has generally been declining for the past several years.

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