Goldman Halts Investments in European Money Fund After ECB Cut
Goldman Sachs Group Inc. (GS) temporarily closed a European money-market fund to new investments after the European Central Bank lowered deposit rates to zero yesterday.
The move affects the GS Euro Government Liquid Reserves Fund and doesn’t prevent redemptions, New York-based Goldman Sachs wrote in an investor memo obtained by Bloomberg News. Its contents were confirmed by Andrea Raphael, a company spokeswoman, who declined to comment further.
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