Money Fund Assets Rise in Week
Bloomberg's writes today, "Fed Said to Consider Clearing Banks, Facility to Drain Reserves", which discusses the Fed's possible use of reverse repos. The Weekly "Money Market Mutual Fund Assets" says, "Total money market mutual fund assets increased by $16.72 billion to $3.446 trillion for the week ended Wednesday, October 7, the Investment Company Institute reported today. Taxable government funds decreased by $6.11 billion, taxable non-government funds increased by $19.08 billion, and tax-exempt funds increased by $3.75 billion. Assets of retail money market funds decreased by $2.91 billion to $1.122 trillion. Taxable government money market fund assets in the retail category decreased by $840 million to $176.38 billion, taxable non-government money market fund assets decreased by $2.44 billion to $701.66 billion, and tax-exempt fund assets increased by $370 million to $244.11 billion.... Assets of institutional money market funds increased by $19.63 billion to $2.324 trillion. Among institutional funds, taxable government money market fund assets decreased by $5.27 billion to $939.92 billion, taxable non-government money market fund assets increased by $21.52 billion to $1.208 trillion, and tax-exempt fund assets increased by $3.38 billion to $175.30 billion." ICI also recently sent out a notice to members that the next meeting of their Insitutional Money Market Funds Committee will be November 16 in New York at JPMorgan.
