[ No headline ]

Has the American Bankers Association's war on the money-market funds "backfired"? According to a spokesman for the Investment Company Institute, the more furor the banks create over the funds, the more money that comes pouring into the funds' coffers. "People are concerned that the government is going to freeze them out of the funds," the spokesman says, "so they are rushing to get in."

So far this year, the funds have increased their assets by $37 billion, or 50 percent, to $112.3 billion. Last week they absorbed another $3.2 billion and now have an average seven-day yield of 14.03 pe rcent. There are now 108 money-market funds.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK