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Crane 100 Money Fund Index
Fitch Ratings has released a report entitled, "U.S. Money Funds and European Banks: Holding Pattern"
. Subtitled, "U.S. Money Funds and European Banks: Holding Pattern
, it says, "Based on a sample of the 10 largest U.S. prime money market funds (MMFs), Fitch Ratings' study reveals several trends of note: On a dollar basis, MMF exposures to European banks declined marginally by 2% since end-March and remain roughly 50% below end-May 2011 levels
. In a sign of continuing risk aversion, roughly one-
third of MMF exposure to European banks was in the form of repos, the highest proportion observed over Fitch Ratings' period of study. Allocations to treasurys and agencies also remained elevated, representing about 20% of MMF holdings