A press release entitled, "Federated Investors Completes Transition of Assets into Federated Ohio Municipal Cash Trust," says, "Federated Investors, Inc., one of the nation's largest investment managers, completed the acquisition of certain assets of Touchstone Advisors, Inc. related to the reorganization of the Touchstone Ohio Tax-Free Money Market Fund into the Federated Ohio Municipal Cash Trust. Since the acquisition was announced in March, approximately $100 million in Ohio tax-free money market assets have been transitioned, either before or as part of the reorganization, to the Federated Ohio Municipal Cash Trust. With approximately $18 billion in tax-free money market assets under management as of March 31, 2015, Federated offers more tax-free state money market products than any other investment manager. "Federated is a leading provider of liquidity management services, and we regularly work with many different types of organizations as they evaluate their cash-management needs," said Joe Machi, director of alliances at Federated. "We will continue to consider and evaluate alliance and acquisition opportunities with asset managers, banks, insurers and broker/ dealers in the United States and around the world." Also, Reuters writes, "July Bills Rates Hold in Negative Territory." It says, "Interest rates on U.S. Treasury bills that mature in July held in negative territory on Monday as cash investors scrambled for low-risk vehicles to park their money as the end of the second quarter approaches <b:>`_next week. `Money market funds and other investors have shifted more cash into the U.S. Federal Reserve's reverse repurchase agreement (RRP) program, given the relative scarcity of ultra short-dated government debt, analysts said.... T-bill rates, depending on maturity, were at their most negative since the end of 2011, Tradeweb data showed." Finally, the New York Fed issued a "Statement Regarding Term Reverse Repurchase Agreements," announcing an updated schedule for Term Operations. It says, "For the June quarter-end, the Desk previously announced its plans to offer at least $200 billion in term reverse repurchase agreement transactions that cross the quarter-end, noting that the schedule would be updated on or around June 22." The updated schedule has operation/settlement dates of June 25 and June 29 with an RRP offering rate of +3 basis points. Both are for $100 billion.

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