News | 03.23.20
Federal Reserve Gives Emergency Aid to Money Market Funds
The Federal Reserve said it would offer emergency loans to money market funds (MMFs). The Fed said in a release that it would establish a Money Market Mutual Fund Liquidity Facility, which would be backed by $10 billion from the Treasury Department. Earlier in the week, the Fed reintroduced a program to support the commercial paper market, which MMFs invest in. That program is intended to ensure companies can keep getting the dollars they need to operate, while the new program is focused on ensuring investors in MMFs can be confident their money is safe.
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