The CRF has issued three rated securities within the past six years totaling almost $ million, opening the door to institutional investors and expanding the marketplace. The migration toward sustainable mainstream capital sources is important in light of budgetary challenges facing governmental and philanthropic funding sources.
Turning to recent monetary developments, there were already indications in November 2000 that a moderation in monetary growth had been under way for some months. In late 2000 and early 2001, these signs of moderation became stronger.