Money market mutual fund managers holding onto short-term debt they are unable to unload into the market will have to continue to hold on tight, because the Federal Reserve is not going to extend its $540 billion in loans to purchase the paper through the Money Market Investor Funding Facility until next month.

The buying program will not be ready until Nov. 24, the Fed said, explaining that it is busy with other bailouts, as well as trying to figure out how to implement the money fund program.

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