A money market fund (also known as money market mutual fund) is an open-ended mutual fund that invests in short-term debt securities such as US Treasury bills and commercial paper. Money market funds are widely (though not necessarily accurately) regarded as being as safe as bank deposits yet providing a higher yield. Regulated in the US under the Investment Company Act of 1940, money market funds are important providers of liquidity to financial intermediaries.
Read more about Money Market Fund: Explanation, History, Breaking The Buck, September 2008, Statistics
Famous quotes containing the words money, market and/or fund:
“Who keeps the tavern and serves up the drinks? The peasant. Who squanders and drinks up money belonging to the peasant commune, the school, the church? The peasant. Who would steal from his neighbor, commit arson, and falsely denounce another for a bottle of vodka? The peasant.”
—Anton Pavlovich Chekhov (1860–1904)
“Forbede us thing, and that desiren we;
Preesse on us faste, and thanne wol we flee.
With daunger oute we al oure chaffare:
Greet prees at market maketh dere ware,
And too greet chepe is holden at litel pris.”
—Geoffrey Chaucer (1340?–1400)
“I am advised that there is an unexpended balance of about $45,000 of the fund appropriated for the relief of the sufferers by flood upon the Mississippi River and its tributaries, and I recommend that authority be given to use this fund to meet the most urgent necessities of the poorer people in Oklahoma.”
—Benjamin Harrison (1833–1901)