SHANGHAI, June 25- Chinese money market rates dropped on Thursday after the central bank injected cash into the market for the first time since mid April and said it would moderately increase short-term liquidity. China's securities regulator said late on Thursday it had approved a new batch of 28 IPOs after 24 firms just finished subscriptions this week and...» Read More
Money market funds have long been a popular haven for conservative investors, but they could become one way that the tremors of the financial crisis in Greece touch the pocketbooks of Americans — about 50 million of them the New York Times reports.
CNBC's Kate Kelly looks at the impact the Greek crisis could have on your money market fund. Peter Crane, president of Crane Data, weighs in, as well.
As we explained last week, U.S. money market funds aren't directly exposed to Greek government debt. But they hold around $1 trillion of debt issued by European banks—who are among the biggest creditors of Greece.
Money market funds have no explicit guarantee from the US government.
CBC's Kate Kelly has the details on Euro stress impacting money market funds.