"​HSBC Becomes First Bank To Bail Out Troubled SIVs" writes The Wall Street Journal. The Journal says, "​In recent weeks, managers of money-​market funds, including Atlanta'​s SunTrust Banks Inc., have moved to insure investors against losses on the funds' investments in SIVs, which hold a total of $​300 billion in securities." (​Crane Data estimates total money fund SIV holdings to be around $​100 billion.) The WSJ notes that Janus held about $​600 million, or 2.​7%, in Cullinan and Asscher, which "​which has since been reduced" and Federated holds about "$​350 million in Asscher in its five largest money funds". WSJ surmises, "HSBC'​s move, particularly if followed by other banks, also may help relieve stress among SIVs by taking responsibility for a big chunk of the sector'​s assets."

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