Pinnock Robbins Richins And Posey, Tax Update Blog

On June 5, 2013, the U.S. Securities and Exchange Commission suggested major changes to certain “primary” money market mutual money (MMF). The changes could significantly alter investors’ perceptions and use of MMFs. There is a 90-day public comment period after which these proposals could be enforced. 1 per share Net Asset Value (NAV).

1 per share value. During the recent financial meltdown, in September 2008, the Reserve Primary Fund MMF “broke the buck” because of the fund’s investment in Lehman Brothers securities that became essentially worthless. 0.97/share but that elicited a operate on the finance and called into question whether other MMFs would also break the buck. The government needed to quickly step in to guarantee the value of MMF shares owned prior to September 19, 2008 to avoid a potential collapse of the MMF industry.

This warranty expired September 18, 2009 with no losses and the federal government has been struggling for years to come up with some answers to avoid the need to make such a warranty again. 1.00 per talk about) in response to market conditions. 1 million per day and authorities MMFs that are at least 80% committed to government securities. That is a significant change and may perfectly cause the run on MMFs that the government is trying to avoid.

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