UPDATE: All Fed Presidents Support MMF Reform, Send Letter to FSOC
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(Updated - February 12, 2013 2:17 PM EST)
All 12 Fed presidents support money market mutual fund (MMF) reform.
MMFs are said to create risk of "significant" liquidity/credit problems, according to a letter sent to the Financial Stability Oversight Council and signed by all Fed presidents. The letter backs the council's proposed determination of potential risk. The council recently proposed initiatives to address structural vulnerabilities of MMFs.
To read the full letter, click here.
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All 12 Fed presidents support money market mutual fund (MMF) reform.
MMFs are said to create risk of "significant" liquidity/credit problems, according to a letter sent to the Financial Stability Oversight Council and signed by all Fed presidents. The letter backs the council's proposed determination of potential risk. The council recently proposed initiatives to address structural vulnerabilities of MMFs.
To read the full letter, click here.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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