ICI: MMF Assets Dip
ICI's latest "Money Market Mutual Fund Assets" says, "Total money market mutual fund assets decreased by $4.86 billion to $2.639 trillion for the week ended Wednesday, September 4, the Investment Company Institute reported today. Taxable government funds decreased by $3.71 billion, taxable non-government funds decreased by $2.70 billion, and tax-exempt funds increased by $1.55 billion." In other news, see Bloomberg's oddly-titled, "Money Fund Lehman Moment Lurks as New Protections Stall", which contains quotes from frustrated former regulators, and WSJ's even odder "Money-Market Cynicism" editorial, which unbelievably criticizes the European Union's money fund reform proposal for not going far enough (because it allows them to keep a stable NAV if they fund a 3% capital buffer).
