*ECB cuts key interest rates to record lows. LONDON, Sept 4- Most euro zone bond yields and money market rates dropped on Thursday after the European Central Bank cut interest rates and announced plans to buy assets, in a bid to stimulate the faltering euro-zone economy.» 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.