Bank of New York Mellon said this morning it is still working on restoring a fund accounting system that failed Monday, affecting the ability of dozens of mutual fund and ETF providers from being able to accurately report closing prices.

In a statement posted on its website, the custody bank said though closing prices for some ETFs are now being generated, the reporting for affected mutual funds remains delayed. "We do not have an ETA for completion at this time," the statement read. "We will continue to work with our clients and utilize the agreed upon fair value and other contingency measures until normal processing can resume."

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access