Source: Bankrate
Synopsis:
- The U.S. Treasury Department establishes Temporary Guaranty Program for elligible money market mutual funds.
- Money Market Mutual Funds are not normally guaranteed by FDIC.
- Panic in markets partly due to Reserve Primary Fund’s Net Asset Value being reduced to $0.97.
- T-bills being purchased at a loss because of their security.
- Money Market Accounts and High-Yield CDs recommended as safer alternatives.
