The $20 billion distribution, set to be made Oct. 13, represents approximately 32% of the Primary Funds total assets as of the close of business Sept. 15.
On Sept. 15 and 16, investors pulled approximately $40 billion from the fund, following the bankruptcy filing of
The Reserves board of trustees voted to return cash to all investors of the fund as of Sept. 15, including to investors that have submitted redemption orders that have not yet been funded.