A release entitled, "Fitch: U.​S. Money Market Funds Signal Tentative Retreat from Eurozone in Holdings," says, "U.​S. prime money market fund (​MMF) exposure to Eurozone banks declined in March 2013, likely reflecting investor concerns over recent events in Italy and Cyprus, according to Fitch Ratings. As of end-March 2013, MMF allocations to Eurozone banks represented 13.​2% of assets under management within Fitch'​s sample, a decline of 19% on a dollar basis relative to the end-​February level of 16% of MMF assets. Despite this recent decline, Fitch notes allocations to Eurozone banks have increased by over 70% since end-​June 2012 when European Central Banks (​ECB) actions led to relative stabilization of market sentiment. Canadian banks remained the largest single country exposure at 13.​4% of assets, a 9% increase since end-​February. In aggregate, MMF allocations to Canadian, Japanese and Australian banks represented approximately one-​third of total assets in Fitch'​s sample versus approximately 20% of assets as of end-​May 2011. Australian, Canadian and Japanese banks collectively represent 10 of the top-​15 largest exposures of MMF assets in Fitch'​s sample, with just three European institutions in the top-​15."

Your Name:
Your Email:
Recipient Email(s):

Use a comma or a semicolon to separate

Please retype symbols from the image:

Optional Message

Daily Link Archive