"Money fund guarantees extended" in the Arizona Republic says, "Your money is safe until mid-September. The Treasury Department recently extended its guarantee program for money-market mutual funds, protecting the investments through Sept. 18 in an effort to help stabilize the financial markets. The program was set to expire April 30. The latest move means more than $3 trillion in money-market fund assets will be backed by Uncle Sam. The funds pay fees equal to 1.5 basis points (0.015 of a percent) of their assets for this protection.... [T]he vast majority of money-market funds are participating." The article cites Crane Data's Money Fund Intelligence. In other news, see "IMMFA Welcomes ABI Money Market Consultation" and "ABI Money Market Sector Review," which discuss the Association of British Insurer's odd proposal to segment money funds in the U.K.

Email This Article




Use a comma or a semicolon to separate

captcha image