Support Aids Money Funds From ‘Breaking the Buck,’ Moody’s Says
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At least 36 money-market funds in the U.S. and about 26 in Europe had to be supported during the global financial crisis, according to a report from Moody’s Investors Service.
At least 20 managers pumped more than a combined $12.1 billion into their prime funds, or money funds that can invest in corporate debt, during the crisis from August 2007 till December 2009, according to the report.