SHANGHAI, Sept 17- China's central bank is injecting a combined 500 billion yuan of liquidity into the country's top banks in moves to support a slowing economy, the Wall Street Journal reported, sending benchmark money market rate sharply lower on Wednesday.» Read More
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.