BlackRock Inc. (BLK) said it restricted new money into two European money-market funds after the European Central bank cut deposit rates to zero.
The BlackRock funds are Institutional Cash Series - Institutional Euro Liquidity Fund and Institutional Cash Series - Institutional Euro Government Liquidity Funds, according to Jessica Greaney, a spokeswoman for the New York-based firm. There are currently no restrictions on redemptions or transfers, Greaney said.
To contact the reporter on this story: Sree Vidya Bhaktavatsalam in Boston at firstname.lastname@example.org
To contact the editor responsible for this story: Christian Baumgaertel at email@example.com