"Fitch Publishes Presale on 5 Money Mkt Investor Funding Facility Related ABCP Programs," says a press release on MarketWatch via Businesswire. The release says, "Fitch Ratings has published a pre-sale report on 5 money market investor funding facility related (MMIFF) asset-backed commercial paper (ABCP) programs. As detailed in the report, Fitch expects to assign an 'F1' [First Tier] rating to each of five ABCP programs that have been created in conjunction with the MMIFF. This Federal Reserve Board initiative is designed to provide liquidity to U.S. money market investors by facilitating the sales of money market instruments in the secondary market. The five programs are structurally identical and differ only with respect to each one's unique list of approved obligors." ABCP will be issued by the following programs: Hadrian Funding, $220 billion; Trajan Funding, $150 billion; Aurelius Funding, $140 billion; Antoninus Funding, $70 billion; and Nerva Funding, $20 billion. The MMIFF program is expected to go live next week. Also, see Bloomberg's "ABCPMMMFLF Spells Fed Relief for JPMorgan, Citi Shadow Banking", which says, "The U.S. Federal Reserve's emergency lending programs, intended to thaw commercial paper and money markets, are also helping banks limit losses from some of their $4 trillion in off-the-books guarantees and loan commitments," and Bloomberg's "Citi Agrees to Acquire SIV Assets for $17.4 Billion". Finally, see Reserve Yield Plus Update and "Joseph T. Monagle, Jr. Hired to Advise on [Reserve] Money Fund Liquidation."
