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Rating:The Boston Fed Head Still Fears a Money Fund Run Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, April 22, 2013

The Boston Fed Head Still Fears a Money Fund Run

News summary by MFWire's editors

It could get bad again in the money fund market, at least according to one expert.

The president of the Federal Reserve Bank of Boston, Erick Rosengren, told Forbes that there could still be runs on money market mutual funds, like in 2008.

The reason? These funds have "no capital" and primarily invest in uninsured short term securities, he told the magazine.

Forbes reported that as of April 13, there was $903.56 billion in retail money market funds sponsored by Fidelity, T. Rowe Price, Dreyfus, Invesco. among other firms.

Read more on Rosengren's concerns in Forbes

Edited by: Tommy Fernandez


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