Fundsters continue to disagree about how to prevent another money market mutual fund along the lines of the Reserve Primary Fund. MarketWatch
's Ronald Orol reports
on the internal disagreement within the industry over backstop money funds.
wants the SEC to require money funds to participate in a proposed centralized pool of at least $50 billion that would serve as a buyer of last resort for money funds' securities in times of crisis, to allow shareholders to continue to redeem shares as desired. BlackRock
], meanwhile, wants each money fund to separate "special purpose vehicles" with capital bufers, while Fidelity
] wants money funds to be required to hold a set minimum capital reserve within their own portfolios.
Neil Anderson, Managing Editor
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