After several false starts, Reserve Funds announced it is planning to honor $25 billion of redemptions in its Primary Fund by the end of the month, plus cash accumulated, as well as $3 billion for its Government Fund seven to 10 days thereafter. Reserve has been trying to reimburse investors $20 billion, initially scheduled for Oct. 13, and has now increased that initial figure to $25 billion.

 

The beleaguered company said it is still trying to reconcile some trades and to figure out if the government’s Money Market Investor Funding Facility will improve the funds’ liquidity.

 

“The process has proven far more complex and time-consuming than anticipated,” Reserve said.

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