ICI: MMMF Assets Up $27B
The latest weekly "Money Market Mutual Fund Assets" says, "Total money market mutual fund assets increased by $26.63 billion to $2.602 trillion for the six-day period ended Tuesday, November 20, the Investment Company Institute reported today. Taxable government funds increased by $6.53 billion, taxable non-government funds increased by $16.90 billion, and tax-exempt funds increased by $3.20 billion. Assets of retail money market funds increased by $12.64 billion to $902.90 billion.... Assets of institutional money market funds increased by $13.99 billion to $1.699 trillion." See also, ICI's "Focus on Funds" (video), "FSOC Action on Money Market Funds Fails to Advance the Debate". Finally, see The Economist's "Running from the shadows". It writes, "Money-market funds are the quintessential "shadow banks": companies that mediate between savers and borrowers, just as banks do, but without the government guarantees or oversight of banks.... The FSOC invited the industry to submit its own solutions. In the meantime, it will ask the SEC to adopt its recommendations. Should it refuse, the FSOC could implement them with other powers. One option that's clearly off the table is another Treasury guarantee like that in 2008: Congress has since outlawed it."
