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Article: Week in Review.(Week In Review)
- Article from:
- Money Management Executive
- Article date:
- November 17, 2008
CopyrightCOPYRIGHT 2008 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Editorial Staff
Federal Reserve Delays Purchases of Money Funds' Short-Term Debt
Money market mutual fund managers holding onto short-term debt they are unable to unload into the market will have to continue to hold on tight, because the Federal Reserve is not going to extend its $540 billion in loans to purchase the paper through the Money Market Investor Funding Facility until until later month. The buying program will not be ready until Nov. 24, the Fed said, explaining that it is busy with other bailouts, as well as trying to figure out how to implement the money fund program.
As it is structured now, any money market mutual fund ...
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