​ Bank of America Discloses $​600 Million Columbia Money Funds Bailout. Bank of America will "​spend $​600 million supporting in-​house money-​market funds that are exposed to troubled financing entities called structured investment vehicles reports The Wall Street Journal. BoA'​s Columbia Funds are the 7th largest manager of money market mutual funds with over $​150 billion in assets. Columbia joins a number of other fund complexes that have taken action purchasing or protecting structured investment vehicle-​related commercial paper and medium-​term notes, extendible ABCP and other esoteric mortgage-​related securities whose value has come into question during the market'​s recent flight-​from-​complexity. See Bloomberg'​s "​Bank of America, Legg Mason Prop Up Their Money Funds" for more.

Your Name:
Your Email:
Recipient Email(s):

Use a comma or a semicolon to separate

Please retype symbols from the image:

Optional Message

Money Market News Archive