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Crane 100 Money Fund Index
The Wall Street Journal writes "Schapiro: Money-Fund Plan Would Give Funds Options"
. It says, "A Securities and Exchange Commission plan to shore up the $2.5 trillion money-market fund industry would give funds a choice between holding more capital and being more transparent to investors about fluctuations in the value of their holdings, SEC Chairman Mary Schapiro said Thursday
. Money funds, under a plan being reviewed by the SEC'
s five commissioners, would have the option of maintaining a small capital cushion coupled with restrictions on investors seeking to pull out their money or abandoning the stable $
share net asset value that funds strive to maintain, Ms. Schapiro said in a U.
S. House hearing." The Journal quotes Schapiro, "Those would be choices that funds could choose between
." It adds, "Talking to reporters after the hearing, Ms. Schapiro declined to give further details other than indicating that the size of the capital buffer would be far less than the 3% to 5% that some critics had feared
." See also, Bloomberg's "The SEC Chairman's Crusade for Money-Fund Safety"