Back to Financial News
Reply
Saturday, October 27, 2012 - 6:29 AM

Fund Companies Propose Compromise To Improve Safety Of Money Market Funds

From Reuters
Officials from BlackRock Inc, Fidelity Investments and other mutual fund operators are meeting Friday with U.S. regulators to discuss a potential compromise for reform of the $2.5 trillion money market industry.

Read more
1
KenBDGKenBDG5,143 posts since
Nov 29, 2009
Rep Points: 116,987
1. Saturday, October 27, 2012 - 9:19 AM
"The industry proposal appeared to focus on giving funds the ability to discourage withdrawals during times of crisis. Recently, BlackRock publicly proposed a plan to charge investors an extra fee to withdraw their money whenever a fund was under stress, discouraging hasty departures. And the fee would go back into the fund, encouraging others to stay put."

I wonder how many banks and credit unions would like that put into their disclosures/agreements for deposit accounts?
2
ShorebreakShorebreak1,284 posts since
Apr 6, 2010
Rep Points: 4,797
Reply