Money Market Funds Must Report Value Weekly

     WASHINGTON (CN) – The Securities and Exchange Commission has adopted a temporary rule requiring money market funds to continue to report portfolio holdings and valuation to the agency on a weekly basis.

     These reporting requirements were originally imposed on funds that participated in the Temporary Guarantee Program for Money Market Funds, which was created to help stabilize money market funds following a period of substantial redemptions that threatened the ability of some money market funds to keep from “breaking the buck,” or letting their value drop below $1.00 per share.
     The SEC found the information gathered from these reports so valuable in regulating money market funds that it will continue to require the reporting, and create a searchable database of money market fund information for consumers.

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