US to end money-market guarantees this month
The US Treasury is to end its guarantee programme for money-market mutual funds later this month, Tim Geithner, the US Treasury secretary, revealed on Thursday.
"Later this month, Treasury's guarantee program for money market mutual funds, which, at its peak, covered over $3 trillion of combined fund assets, will end," Geithner told lawmakers.
He also noted that usage of several of the facilities set up by the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) had declined.
The
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