The Treasury Department has extended its guarantee for participating money market funds through April 30, 2009. However, the guarantee continues to protect only assets in a fund as of the close of business on Sept. 19, the day the program was announced. Any funds added since then do not qualify for the guarantee.
The program had been scheduled to expire three months after its September launch date, and could be extended again through Sept. 18, 2009 if necessary. However, only money market funds already in the program qualify for the new extension, and if a fund decides not to extend its participation, it will not be allowed to rejoin the program later. The deadline for a fund to make its decision and submit the necessary paperwork and payments is Friday, Dec. 5.
Filed under: Finance, Investments | Tagged: fund, guarantee, money market, Treasury
