The Bond Buyer'​s article "​Lockyer'​s Rating Proposal Gets Mixed Response From Market" discusses a proposal by California Treasurer Bill Lockyer to "​petition the three major credit agencies to harmonize their municipal rating scales with corporate ratings, or ask the Securities and Exchange Commission to amend its Rule 2a-​7 on money market funds to take into account the difference scales." The article says, "Rule 2a-​7, which governs the types of securities that money markets funds can hold, currently stipulates among other things that these funds can'​t purchase securities rated below double-​A."

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