Money market fund assets continued their up and down pattern, increasing this week after dropping last week, says ICI in its latest weekly "Money Market Mutual Fund Assets" report. The release says, "Total money market fund assets increased by $16.97 billion to $2.69 trillion for the week ended Wednesday, March 25, the Investment Company Institute reported today. Among taxable money market funds, Treasury funds (including agency and repo) increased by $4.79 billion and prime funds increased by $13.94 billion. Tax-exempt money market funds decreased by $1.76 billion. Assets of retail money market funds increased by $80 million to $892.46 billion. Among retail funds, Treasury money market fund assets decreased by $250 million to $194.27 billion, prime money market fund assets increased by $870 million to $509.11 billion, and tax-exempt fund assets decreased by $530 million to $189.08 billion. Assets of institutional money market funds increased by $16.89 billion to $1.80 trillion. Among institutional funds, Treasury money market fund assets increased by $5.05 billion to $787.46 billion, prime money market fund assets increased by $13.07 billion to $938.28 billion, and tax-exempt fund assets decreased by $1.22 billion to $70.62 billion." For the last 8 weeks going back to the beginning of February, MMF assets have seesawed up and down each week. Year-to-date assets are down $44 billion, or 1.6%." In other news, the New York Fed published a "Statement to Revise the Time of Day of the Overnight Reverse Repurchase Agreement Operation for March 31, 2015," which says, "The Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York (New York Fed) has been working internally and with market participants on operational aspects of tri-party reverse repurchase agreements (RRPs) to ensure that this tool will be ready to support the monetary policy objectives of the Federal Open Market Committee (FOMC). Regarding the overnight reverse repurchase agreement (ON RRP) operation to be conducted on Tuesday, March 31, 2015, the Desk will conduct the operation from 9:30 to 10:00 a.m. Eastern Time, several hours earlier than usual. All other terms of the exercise will remain the same."

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