Treasury extends of Temporary Guarantee Program for Money Market Funds

25 November 2008

The programme to boost investment in money-market funds will now expire April 30, 2009. The Secretary may extend the program until September 18, 2009.

The Treasury Department will extend the Treasury's Temporary Guarantee Program for Money Market Funds. The programme to boost investment in money-market funds will now expire April 30, 2009.

 

The Programme guarantees the share price of any publicly offered eligible money market mutual fund – both retail and institutional – that applies for and pays a fee to participate in the program.

 

Funds that currently are not participating in the program are not eligible to enter the program. Funds must make a program extension payment and submit the extension notice by December 5.

 

The program currently covers over $3 trillion of assets. The Secretary may extend the program until September 18, 2009. However, no decision has been made to extend the program beyond April 30, 2009.

 

Extension Notice

Press release

Further information here

 


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