While the Federal Register version of the Securities & Exchange Commission's recent "Money Market Fund Reforms" has yet to be posted on the Commission's "Final Rules" website page, the SEC did just add a version entitled, "Rule 2a-7 Amendments Adopted by SEC in February 2010 Marked to Show Changes from Previous Rule 2a-7." The new 24-page "red-lined" version indicates changes from the original Rule 2a-7 core text, such as adding terms like "Daily Liquid Assets" (means cash, direct obligations of the U.S. Government, or securities that will mature or are subject to a demand feature that is excercisable and payable within one business day), designated NRSROs (any of at least four), and weekly liquid assets. See also, MarketWatch's "Fed's Hoenig wants rate hike sooner than later", which says, "The Federal Reserve should raise short-term interest rates 'sooner rather than later,' said Thomas Hoenig, the president of the Kansas City Federal Reserve bank. Rates 'could be higher, and the effects would be minor' on growth, Hoenig said in an interview with CNBC business cable television channel. Hoenig indicated he would keep up pressure on the central bank to soften its pledge to keep rates near-zero for an 'extended period.'"
