MMF reform behind huge asset swings

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• iMoneyNet - Money Market Fund Analysis

  This week's issue of Money Fund Report

  06 Apr 2020

  iMoneyNet was among the first to report that a consortium of business associations and asset managers have appealed to the U.S. Federal Reserve to include a broader range of commercial paper issuers – specifically those designated as T2 – in the Fed’s new Commercial Paper Funding Facility. In a March 31 letter to Fed Chair Jerome Powell and reported in iMoneyNet’s Money Fund Report on Wednesday, the consortium members asserted that T2 CP issuers are entirely “investment grade” and present a default rate only “infinitesimally” greater than their T1-rated peers.

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• iMoneyNet - Money Market Fund Analysis

  MMF Assets Up for Eighth Consecutive Quarter

  22 Jan 2020

  Final data for the fourth quarter of 2019 show that assets in U.S. money-market funds increased for the eighth consecutive quarter, confirming preliminary numbers in last week’s Money Fund Report (#2300) that assets in all funds as well as in key Retail and Institutional fund categories for the year just ended increased dramatically, outpacing recent years and positioning the money-fund industry to prosper in the 12 months ahead. Assets in all U.S. funds ended the year at $3,581.4 trillion, a four-quarter increase of $588.4 billion, or 19.7 percent, as the table below shows. Between the third and fourth quarters, all assets increased by 5.5 percent. Taxable funds fared better, growing by $596.0 billion to $3,441.1 trillion, a yearly jump of 20.9 percent, and a Q3-to-Q4 growth of 5.6 percent. For more money-market analysis and insights, reach out to us for more information or a tour of our solutions.

  Topics Industry News

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