MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, September 18, 2009 Treasury Pockets $1.2 Billion From Money Funds The U.S. Treasury's money-market insurance program ends Friday, but the Treasury will keep over one billion dollars in payments from money funds. The $1.2 billion collected from asset managers "will stay with the Treasury," a U.S. Treasury official told Reuters. The money was used to support guarantees to back the $3.5 trillion money market industry, in case of a complete collapse. Although money-market fund firms never used the insurance, the Treasury will keep the money in the Treasury Exchange Stabilization Fund, which had $52.4 billion in assets at the end of last quarter. (That's the same fund the Treasury used in November to buy up to $5.6 billion in assets from one of the Reserve's less-infamous beleaguered funds, the Reserve U.S. Government Fund. Printed from: MFWire.com/story.asp?s=22653 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |