05.10.2016 23:25:00

Moody's: Global short-term issuers lessen reliance on US money market funds as reforms approach

New York, October 05, 2016 -- Reforms set to take effect in October have resulted in a "great" asset migration altering the demand for prime and tax-exempt US money market funds (MMFs) and influencing the funding profiles of banks, non-financial corporates and municipals, Moody's Investors Service says in a report. More than $650 billion of industry assets have moved since the beginning of the year and we would not be surprised to see 50% of the remaining assets change hands prior to the October 14 deadline.

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