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Rating:Operators of Money Funds Feel the SIV Pinch Not Rated 2.8 Email Routing List Email & Route  Print Print
Tuesday, November 20, 2007

Operators of Money Funds Feel the SIV Pinch

by: Erin Kello

Companies that run money market funds are under more stress to protect their funds from losses due to SIVs than ever before, according to data from Moody's Investor Services. Bloomberg's Shannon Harrington reports that the managers of the 10 largest money funds owned about $50 billion in short-term debt of SIVs, of which some has already defaulted. There are at least seven other companies that have bought debt from their money funds or committed to financing in order to keep them from losing their credit ratings, according to Harrington.  

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