The $400 Billion Money-Fund Exodus With Banks in Its Crosshairs

Updated on
  • Push to make money markets safer transforms industry
  • Investors set to exit prime funds, which buy commercial paper

A view of Royal Bank in Toronto, Canada.

Photographer: Reynard Li

Banks and other companies that have seen borrowing costs rise in the past year are about to feel more pressure in a $1 trillion market for short-term IOUs.

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