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ARTICLE · 02 OCTOBER 2008

U.S. Treasury Opens Money Market Guarantee Program

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On September 29, 2008 the U.S. Treasury Department opened its temporary emergency program to insure investor losses of amounts held in participating publicly eligible money market mutual funds as of the close of business on September 19, 2008.

United StatesFinance and Banking
Robert Clarke
Robert Clarke
Sanford Brown
Sanford Brown
William Luedke IV
William Luedke IV
Justin Long
Justin Long

On September 29, 2008 the U.S. Treasury Department opened its temporary emergency program to insure investor losses of amounts held in participating publicly eligible money market mutual funds as of the close of business on September 19, 2008.  The guarantee program is intended to sustain investor confidence in the market and designed to address temporary dislocations in credit markets.  In connection with initiation of the program, the U.S. Treasury Department released answers to frequently asked questions regarding the program. 

The U.S. Treasury Department initially announced the program on September 19, 2008 amidst concerns about the net asset value of money market funds "breaking the buck" and the turmoil gripping capital and credit markets.  The program only covers the shares of money market funds held of record by investors on September 19, 2008, and the specifics of the program are expected to allay concerns of depository institutions that insuring

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