Measuring money... faster, cheaper, cleaner
Crane 100 Money Fund Index
Reuters writes "Mayors oppose new money market fund restrictions"
. The article says, "A group including nine big-city mayors organized by the U.S. Chamber of Commerce came out on Monday against additional rules for money market mutual funds, ahead of a key regulatory vote like later this month
. The U.S. Securities and Exchange Commission
is expected to vote on Aug. 29 on a proposal
aimed at bolstering the $
4 trillion money fund industry, which suffered from a run of customer withdrawals at the height of the 2008 financial crisis. If approved, the proposal would be issued for public comment
. But the mayors, following previous objections raised by some corporations and other short-
term borrowers, argued in a letter to the SEC that the changes would disrupt the market, driving up borrowing costs and pushing investors away from a popular savings vehicle. The fund industry is also vehemently opposed to the proposal."