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 accurately being able to 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."

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.