The
Senior executives from
Money market mutual funds experienced a record $200 billion run in the two weeks following the second fund ever to break the buck when, on Sept. 15, the net asset value of
According to the ICI, money market funds finance 40% of commercial paper and 20% apiece of marketable Treasury bills and municipal securities.
Events in September and October underscore the vital role that the [mutual fund money] market plays in the nations economy as a source of financing for U.S. businesses, financial institutions, consumers and municipalities, Brennan said.
The SEC indicated in September it will be reviewing Rule 2a-7, which pertains to money market funds.