While the money markets await the posting of the SEC'​s Final Rules on Money Market Reforms (​which should be posted Monday or Tuesday), we noticed a couple last-​minute Comments on the initial SEC Proposals. While these were submitted prior to the final rules, one from John McGonigle, Deborah A. Cunningham and Steve Keen, on behalf of Federated Investors, Inc. contains an information-​packed Powerpoint. The slides contain historical information on an example of a prime money funds' shadow price, and several statements made by the SEC on the importance of money market funds. These include the themes: "Money market funds have been one of the most important innovations within the mutual fund industry; Money market funds served as the vehicle that essentially introduced many investors to the mutual fund industry; Money market funds are of fundamental importance to the financial system; and, Money market funds have provided a great benefit to the fund investors."

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