The SEC adopted rules designed to curb the risk of investor runs on money market funds.» Read More
WASHINGTON, July 22- The U.S. Chamber of Commerce made a last-ditch plea on Tuesday to federal securities regulators, urging them not to adopt rules that will change how some money market funds are valued and could cause companies to park their cash elsewhere.
Total U.S. money market mutual fund assets fell $10.22 billion to $2.57 trillion for the week that ended Wednesday, according to the Investment Company Institute. Assets in the nation's retail money market mutual funds fell $1.42 billion to $893.46 billion, the Washington- based mutual fund trade group said Thursday.
WASHINGTON, July 16- The U.S. Securities and Exchange Commission announced late Wednesday it will meet July 23 to vote on final rules aimed at reducing investor risk in money market mutual funds. The SEC did not disclose details on how the rule will look. The SEC also said it will repropose a set of money fund rules that reference credit ratings.
Total U.S. money market mutual fund assets rose $5.37 billion to $2.58 trillion for the week that ended Wednesday, according to the Investment Company Institute. Assets in the nation's retail money market mutual funds rose $1.78 billion to $894.66 billion, the Washington- based mutual fund trade group said Thursday.
NEW YORK, July 10- Investors added more than $19 billion in new cash to U.S.-based stock and money market funds in the latest week as the second-quarter earnings season kicked off, data from Thomson Reuters' Lipper service showed on Thursday.
LONDON, June 10- An all-time low for euro zone money market rates bolstered the region's bond rally and held down the euro on Tuesday, providing clear evidence that the European Central Bank's latest support measures are gaining traction.
LONDON/ FRANKFURT, April 24- The amount of spare cash in the euro zone banking system fell to its lowest levels in 2-1/ 2 years on Thursday, pushing up short-term money market rates and adding impetus for the ECB to loosen policy further.
Any policy other than allowing all money market funds to fluctuate in value, as they surely do anyway, rather than adopting the protective coloring of an artificial $1.00 share price is a huge mistake and a disservice to investors and taxpayers alike.
The SEC is still actively eyeing a plan that would force prime institutional money market funds to abandon their stable $1 per-share net asset value and float their share price.
*ECB disappoints bears, euro seen rising to $1.40. LONDON, March 7- The euro raced to a 2-1/ 2 year high against the dollar on Friday as short term money market rates rose on signs that the European Central Bank's balance sheet was contracting at a time when other major central banks were still expanding theirs.
NEW YORK, Feb 20- Investors in U.S.-based funds poured $11.2 billion into stock funds in the week ended Wednesday while pulling cash out of safe money market funds, data from Thomson Reuters' Lipper service showed on Thursday.
HONG KONG, Feb 19- China shares rose to their highest level in nine weeks on Wednesday, supported by the financial and energy sectors, as a decline in money market rates eased liquidity concerns. The CSI300 of the leading Shanghai and Shenzhen A-share listings closed up 1.2 percent.
SHANGHAI, Feb 19- Mainland stocks crept higher on Wednesday, as a fall in money market rates eased concern over monetary tightening, while Hong Kong shares slipped on profit-taking.
RIO DE JANEIRO/ LONDON, Feb 18- Emerging market stocks dipped on Tuesday, led by a drop in Chinese shares, while a fresh outbreak of violence drove Ukraine's currency towards five-year lows and weighed on its bond prices.
HONG KONG, Feb 18- Shanghai shares fell from a two-month high on Tuesday, as China's central bank drained 48 billion yuan from the country's money market after data showed new loans surged in January to their highest in four years. The CSI300 of the leading Shanghai and Shenzhen A-share listings sank 1.3 percent.
HONG KONG, Feb 18- Shanghai shares fell from a two-month high early on Tuesday, weighing on Hong Kong stocks, after China's central bank drained 48 billion yuan from the country's money market. The People's Bank of China had drained 450 billion yuan last week as it continued to taper a pre- Lunar New Year cash injection.
LONDON, Feb 10- Managers of the European Union's trillion-euro money market funds, which give access to short-term finance at low interest rates, will need to show their pay packets do not encourage too much risk-taking under a proposal from the bloc's lawmakers.
*Euro zone bond yields plunge as inflation falls to 0.7 pct. LONDON, Jan 31- Euro zone bond yields and money market rates slid on Friday after an unexpected drop in inflation intensified speculation the European Central Bank may ease its policy in coming months.
The SEC's five commissioners are weighing a proposal to reduce the risk of runs on money market funds, like the one seen in 2008 when the Reserve Primary Fund's net asset value fell below $1 per share as panicked investors withdrew money to avoid exposure to Lehman Brothers.
Piwowar's comments come as the SEC's five commissioners are weighing a proposal to reduce run risks on money market funds, like the one seen in 2008 when the Reserve Primary Fund's net asset value fell below $1 per share as panicked investors yanked out their money to avoid exposure to Lehman Brothers.