Every single one of the 90 money market mutual fund managers tracked by Crane Data's Money Fund Intelligence XLS has now applied for the U.S. Treasury Department's new Money Market Fund Temporary Guaranty Program. The Reserve is the most recent to announce its application, though its acceptance in the program remains uncertain. Crane Data `estimates that 95% of the $3.4 trillion in money fund assets are now covered by the program. (The number would be higher, but we're not counting Reserve yet, and some families chose not to insure their Treasury funds.)
For the running list of fund company announcements, see below. For more on the details, click on the following links: Treasury Announces Guaranty Program for Money Market Funds, Treasury Provides Clarity For Money Market Funds Guaranty Program, Treasury Opens Money Market Funds Guarantee Program, FAQ: Treasury's Money Market Funds Guarantee Program, ICI's "Frequently Asked Questions about the Treasury's Guarantee Plan for Money Market Mutual Funds", and ICI and IDC Webinar regarding the Treasury's Temporary Guarantee Program for Money Market Funds. For the application and details for signing up, visit the "Treasury's Temporary Guarantee Program for Money Market Funds" page. Of course, see also Crane Data's previous News and Link of the Day pages, and see the upcoming October issue of Money Fund Intelligence for more details.
Here is an updated list of money fund families that have applied for the Treasury's Temporary Money Fund Guarantee Program. AIM (Invesco), Allegiant, Alpine, American Beacon, American Century, American Funds, American Performance, Barclays, BlackRock, Calvert, CNI Charter, Columbia, Credit Suisse, Deutsche (DB/DWS) Asset Management, Dreyfus, Evergreen, Federated, Fidelity, First American, Flex-Funds, Fortis (Aston/ABN Amro), Franklin, Goldman Sachs, HighMark (UBOC), HSBC, Huntington, Janus, JPMorgan, Legg Mason (Western Asset), Marshall, MFS, Morgan Stanley, Munder, Nationwide (pending), Neuberger Berman (Lehman Brothers), Northern, PNC, Oppenheimer (Centennial), Prudential, Putnam, Reich & Tang, Russell, Schwab, SSgA, State Street Inst, Tamarack, TIAA-CREF, TCW, Touchstone, UBS, Vanguard, Victory, Virtus (Phoenix Insight), Wells Fargo, and Wilmington Trust.
