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Division of Investment Management
Analytics Office
Money Market Fund Statistics
Form N-MFP Data, period ending October 31, 2019
This is a report of the Staff of the Division of Investment Management’s Analytics Office of the U.S.
Securities and Exchange Commission. The Commission has expressed no view regarding the
analysis, findings, or conclusions contained herein.
Information presented in this report reflects staff’s compilation and analysis of data reported to the Commission on
Form N-MFP for the reference period. The presented information does not reflect any filings or amended filings
submitted after the data cut-off date of this report. Staff works with information reported on Form N-MFP and with
filers to correct possible reporting errors and may update reported information to correct what appear to be clear
filer errors. Corrected data from amended filings may be published in a corrected report or in the next regular report,
as determined by staff.
If you have any questions or comments about this report, please contact Sharon Pichler or Isaac Kuznits, Analytics
Office, Division of Investment Management, at Form-NMFP@sec.gov, with the subject line “Money Market Fund
Statistics.”
Page | 1 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Monthly Change in Key Statistics and Table of Contents*
TOPIC
Number of Money Market Funds Reporting (Not Including Feeder Funds)
Prime
Institutional
Retail
Tax Exempt
Institutional
Retail
Government & Treasury Funds
Government
Treasury
Assets (in billions)
Prime Funds
Institutional
Retail
Tax Exempt Funds
Institutional
Retail
Government & Treasury Funds
Government
Treasury
7-Day Yields Gross
Prime Funds
Institutional
Retail
Tax Exempt Funds
Institutional
Retail
Government & Treasury Funds
Government
Treasury
7-Day Yields Net
Prime Funds
Institutional
Retail
Tax Exempt Funds
Institutional
Retail
Government & Treasury Funds
Government
Treasury
Weighted Average Life (WAL)
Prime Funds
Institutional
Retail
Tax Exempt Funds
Institutional
Retail
Government & Treasury Funds
Government
Treasury
10/31/2019
Change
9/30/2019
47
33
-
47
33
14
67
-
14
67
152
59
3
-
149
59
$656.0
$445.5
$24.7
$13.7
$631.3
$431.8
$15.4
$127.2
$0.7
$2.9
$14.7
$124.3
$1,858.5
$835.5
$40.1
$6.5
$1,818.4
$829.0
1.99%
2.06%
-0.13%
-0.12%
2.13%
2.18%
1.22%
1.26%
-0.36%
-0.30%
1.58%
1.56%
1.89%
1.86%
-0.14%
-0.17%
2.03%
2.03%
1.90%
1.80%
-0.15%
-0.12%
2.05%
1.92%
1.10%
0.98%
-0.36%
-0.31%
1.45%
1.28%
1.62%
1.64%
-0.13%
-0.17%
1.76%
1.80%
65.7 days
76.7 days
3.6 days
3.9 days
62.1 days
72.8 days
19.5 days
41.7 days
3.3 days
3.3 days
16.2 days
38.5 days
97.7 days
98.7 days
-0.4 days
3.5 days
98.1 days
95.2 days
Page
4
5
6
7
8
Page | 2 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Monthly Change in Key Statistics and Table of Contents (continued)
TOPIC
Weighted Average Maturity (WAM)
Daily Liquidity
Weekly Liquidity
Prime Funds' Bank Holdings
Prime Funds' Portfolio Composition
Gov't and Treasury Funds Bank Repo
All Funds Fed Repo (in billions)
Securities > 179 Days to Maturity
Prime Funds
Institutional
Retail
Tax Exempt Funds
Institutional
Retail
Government & Treasury Funds
Government
Treasury
Prime Funds
Institutional
Retail
Government & Treasury Funds
Government
Treasury
Prime Funds
Institutional
Retail
Tax Exempt Funds
Institutional
Retail
Government & Treasury Funds
Government
Treasury
10/31/2019
Change
9/30/2019
34.1 days
43.5 days
3.2 days
2.8 days
31.0 days
40.7 days
19.1 days
39.2 days
3.1 days
3.3 days
15.9 days
35.9 days
31.8 days
40.9 days
2.0 days
4.1 days
29.8 days
36.9 days
9
10
37.7%
25.1%
0.1%
-0.3%
37.6%
25.5%
47.0%
91.9%
0.4%
0.6%
46.6%
91.3%
11
52.5%
39.2%
-1.3%
-2.7%
53.8%
41.9%
87.5%
73.2%
2.7%
-1.1%
84.8%
74.3%
70.5%
98.6%
-1.5%
0.5%
71.9%
98.2%
By Country
By Geographic Region
12
13
14
15
By Country
Prime Funds
Institutional
Retail
Tax Exempt Funds
Institutional
Retail
Government & Treasury Funds
Government
Treasury
Page
$2.8
-$4.2
$7.1
11.0%
11.3%
1.5%
2.1%
9.5%
9.2%
3.4%
10.0%
1.2%
1.3%
2.2%
8.7%
18.8%
17.6%
1.1%
1.8%
17.7%
15.8%
16
17
*Some calculations in the change column in the above Table of Contents and in other tables in this report may not total
as expected due to rounding. Terms used in this report are defined in Appendix 2, Key Definitions.
Page | 3 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Trend in Number of Money Market Funds
Prime (Pre-Oct 2016)
Prime Institutional
Prime Retail
Muni (Pre-Oct 2016)
Muni Institutional
Muni Retail
Government
Treasury
250
200
150
100
50
0
* Note: Beginning in October 2016, Form N-MFP required prime and tax-exempt money market funds to identify
themselves as institutional or retail funds; up to that date, Funds reported without making this distinction. Government
and Treasury funds are not required to distinguish between retail and institutional. See Appendix 2, Key Definitions.
Page | 4 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Millions
Net Assets of Money Market Funds
Prime (Pre-Oct 2016)
Prime Institutional
Prime Retail
Muni (Pre-Oct 2016)
Muni Institutional
Muni Retail
Government
Treasury
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
Page | 5 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Weighted Average 7-Day Gross Yields
Prime (Pre-Oct 2016)
Prime Institutional
Prime Retail
Muni (Pre-Oct 2016)
Muni Institutional
Muni Retail
Government
Treasury
3.00%
2.50%
2.00%
1.50%
1.00%
0.50%
0.00%
Page | 6 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Weighted Average 7-Day Net Yields
Prime (Pre-Oct 2016)
Prime Institutional
Prime Retail
Muni (Pre-Oct 2016)
Muni Institutional
Muni Retail
Government
Treasury
3.00%
2.50%
2.00%
1.50%
1.00%
0.50%
0.00%
Page | 7 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Weighted Average Life
Prime (Pre-Oct 2016)
Prime Institutional
Prime Retail
Muni (Pre-Oct 2016)
Muni Institutional
Muni Retail
Government
Treasury
120
100
80
60
40
20
0
Page | 8 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Weighted Average Maturity
Prime (Pre-Oct 2016)
Prime Institutional
Prime Retail
Muni (Pre-Oct 2016)
Muni Institutional
Muni Retail
Government
Treasury
50
45
40
35
30
25
20
15
10
5
0
Page | 9 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Daily Liquid Assets
Prime (Pre-Oct 2016)
Prime Institutional
Prime Retail
Government
Treasury
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
As municipal funds do not have a daily liquidity requirement, their daily liquidity statistics are not included here.
Page | 10 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Weekly Liquid Assets
Prime (Pre-Oct 2016)
Prime Institutional
Prime Retail
Muni (Pre-Oct 2016)
Muni Institutional
Muni Retail
Government
Treasury
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Page | 11 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Millions
Prime MMFs Bank-Related Securities by Country
US
PrimeAust/NZ
Canada
France
Japan
Netherlands
Switzerland
UK
Germany
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Bank-related securities include Certificates of Deposit, Time Deposits, sponsored ABCP, and repurchase agreements
where the bank is the counterparty.
Page | 12 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Prime MMFs Bank-Related Securities by Major Region
Millions
Europe
Eurozone
Americas
Asia/Pacific
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
Eurozone is a subset of Europe and Eurozone values are also included in totals for Europe.
Bank-related securities include Certificates of Deposit, Time Deposits, sponsored ABCP, and repurchase agreements
where the bank is the counterparty.
Page | 13 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Millions
Prime MMFs Portfolio Composition
Asset-Backed
CDs and Time Deposits
Gov& Treas (Direct & Repo)
Non-Financial Co. CP & Other
Financial Co. CP
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
Page | 14 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Government and Treasury MMFs Repo by Country of
Counterparty
Millions
US
Canada
France
Germany
Japan
UK
Other
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Page | 15 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Millions
All Funds Repo with the Federal Reserve
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Page | 16 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Percent of Securities > 179 Days to Maturity
Prime (Pre-Oct 2016)
Prime Institutional
Prime Retail
Muni (Pre-Oct 2016)
Muni Institutional
Muni Retail
Government
Treasury
25%
20%
15%
10%
5%
0%
Page | 17 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Appendix 1 – Supporting Data
A. Number of Funds
10/31/2015
11/30/2015
12/31/2015
1/31/2016
2/29/2016
3/31/2016
4/30/2016
5/31/2016
6/30/2016
7/31/2016
8/31/2016
9/30/2016
10/31/2016
11/30/2016
12/31/2016
1/31/2017
2/28/2017
3/31/2017
4/30/2017
5/31/2017
6/30/2017
7/31/2017
8/31/2017
9/30/2017
10/31/2017
11/30/2017
12/31/2017
1/31/2018
2/28/2018
3/31/2018
4/30/2018
5/31/2018
6/30/2018
7/31/2018
8/31/2018
9/30/2018
10/31/2018
11/30/2018
12/31/2018
1/31/2019
2/28/2019
3/31/2019
4/30/2019
5/31/2019
6/30/2019
7/31/2019
8/31/2019
9/30/2019
10/31/2019
Prime
(Pre-Oct 2016)
221
218
207
206
203
193
163
145
143
140
132
115
.
.
.
.
.
.
.
.
.
.
.
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.
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.
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.
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.
.
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.
.
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.
Prime
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
68
57
56
56
56
56
57
56
56
56
56
56
56
48
46
46
46
46
46
46
46
46
46
47
46
46
45
45
46
46
46
47
47
47
47
47
47
Prime
Retail
.
.
.
.
.
.
.
.
.
.
.
.
29
37
37
37
37
37
37
37
36
36
36
36
36
36
36
36
36
35
35
35
34
34
34
34
34
33
33
33
33
33
34
33
33
33
33
33
33
Muni
(Pre-Oct 2016)
150
149
147
143
142
143
131
128
127
119
112
109
.
.
.
.
.
.
.
.
.
.
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.
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.
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.
.
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.
Muni
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
17
11
11
11
11
11
11
11
11
11
11
11
11
11
11
12
11
12
12
12
12
12
12
12
14
14
14
14
14
14
14
14
14
14
14
14
14
Muni
Retail
.
.
.
.
.
.
.
.
.
.
.
.
87
91
91
90
90
89
89
89
89
85
85
85
80
72
72
72
72
72
72
72
72
72
72
72
70
70
67
67
67
67
67
67
67
67
67
67
67
Government
82
84
86
86
89
91
117
131
132
132
137
148
159
159
159
158
158
159
159
159
159
159
159
159
157
156
154
154
154
154
154
154
155
156
157
156
155
154
151
151
151
151
150
150
150
150
150
149
152
Treasury
65
65
62
62
62
63
62
62
62
62
62
61
60
60
59
59
59
59
59
59
59
59
59
59
59
59
60
60
60
60
62
62
62
62
62
62
62
62
60
59
59
59
59
59
59
59
59
59
59
Total
518
516
502
497
496
490
473
466
464
453
443
433
420
415
413
411
411
411
412
411
410
406
406
406
399
382
379
380
379
379
381
381
381
382
383
383
381
379
370
369
370
370
370
370
370
370
370
369
372
Page | 18 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
B. Net Assets of Money Market Funds by Category (Millions)
10/31/2015
11/30/2015
12/31/2015
1/31/2016
2/29/2016
3/31/2016
4/30/2016
5/31/2016
6/30/2016
7/31/2016
8/31/2016
9/30/2016
10/31/2016
11/30/2016
12/31/2016
1/31/2017
2/28/2017
3/31/2017
4/30/2017
5/31/2017
6/30/2017
7/31/2017
8/31/2017
9/30/2017
10/31/2017
11/30/2017
12/31/2017
1/31/2018
2/28/2018
3/31/2018
4/30/2018
5/31/2018
6/30/2018
7/31/2018
8/31/2018
9/30/2018
10/31/2018
11/30/2018
12/31/2018
1/31/2019
2/28/2019
3/31/2019
4/30/2019
5/31/2019
6/30/2019
7/31/2019
8/31/2019
9/30/2019
10/31/2019
Prime
(Pre-Oct 2016)
$1,790,928
$1,723,586
$1,572,045
$1,565,516
$1,586,685
$1,518,186
$1,470,199
$1,403,324
$1,278,835
$1,234,360
$1,033,094
$739,867
.
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.
Prime
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
$327,605
$315,478
$299,286
$312,992
$337,070
$345,626
$359,051
$362,334
$365,381
$373,600
$385,107
$404,603
$404,408
$415,780
$398,906
$409,131
$405,107
$403,237
$426,570
$424,669
$407,446
$418,773
$434,967
$442,811
$433,830
$449,337
$420,950
$458,035
$501,861
$591,448
$616,748
$616,085
$616,389
$626,601
$629,966
$631,292
$655,970
Prime
Retail
.
.
.
.
.
.
.
.
.
.
.
.
$234,775
$250,376
$251,070
$249,093
$249,900
$253,517
$249,867
$249,039
$249,974
$251,324
$256,627
$259,868
$261,077
$264,015
$267,267
$260,248
$261,506
$259,935
$258,738
$261,345
$269,693
$282,640
$297,585
$303,635
$309,501
$322,412
$343,235
$356,898
$371,005
$380,660
$383,203
$392,725
$402,025
$414,132
$421,395
$431,801
$445,511
Muni
(Pre-Oct 2016)
$253,986
$255,994
$263,850
$255,942
$248,437
$239,917
$223,440
$217,892
$201,606
$190,302
$159,116
$135,611
.
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.
.
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.
.
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.
.
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.
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.
Muni
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
$11,733
$9,947
$8,515
$10,065
$9,301
$10,242
$10,286
$10,438
$10,279
$11,097
$10,512
$10,410
$10,788
$9,817
$8,471
$11,007
$11,045
$10,600
$11,209
$11,460
$11,275
$11,518
$11,685
$12,113
$12,028
$12,602
$12,441
$14,615
$15,028
$15,696
$13,853
$13,568
$14,649
$15,008
$15,840
$14,748
$15,391
Muni
Retail
.
.
.
.
.
.
.
.
.
.
.
.
$123,240
$125,354
$125,956
$125,290
$125,488
$125,135
$122,639
$123,434
$122,804
$124,256
$122,485
$121,617
$121,903
$123,081
$125,956
$130,606
$129,155
$126,517
$124,743
$131,305
$127,829
$122,974
$123,408
$123,056
$126,114
$130,641
$137,247
$131,201
$128,667
$129,323
$124,749
$127,081
$126,530
$125,881
$124,971
$124,320
$127,157
Government
$528,216
$580,257
$715,020
$716,457
$739,871
$755,204
$794,616
$836,290
$940,144
$1,005,481
$1,192,805
$1,424,270
$1,572,829
$1,627,562
$1,622,252
$1,587,668
$1,583,710
$1,565,137
$1,552,328
$1,542,721
$1,522,224
$1,518,764
$1,553,166
$1,574,285
$1,570,491
$1,594,652
$1,623,763
$1,576,634
$1,611,143
$1,579,295
$1,600,249
$1,634,109
$1,586,774
$1,586,539
$1,581,319
$1,572,204
$1,578,537
$1,602,302
$1,634,001
$1,636,207
$1,659,312
$1,637,893
$1,628,964
$1,671,206
$1,689,382
$1,723,417
$1,776,086
$1,818,359
$1,858,528
Treasury
$512,879
$519,551
$534,522
$525,959
$547,500
$559,095
$544,852
$555,703
$571,887
$583,593
$608,304
$645,052
$644,630
$646,148
$651,244
$632,071
$625,897
$630,006
$622,862
$632,849
$626,484
$637,985
$660,348
$663,665
$656,264
$672,906
$701,105
$693,592
$703,951
$694,141
$683,204
$687,449
$695,445
$691,247
$694,650
$701,872
$703,877
$735,903
$749,999
$732,337
$730,282
$738,992
$727,182
$752,200
$765,804
$785,311
$798,379
$829,012
$835,543
Total
$3,086,010
$3,079,388
$3,085,437
$3,063,874
$3,122,493
$3,072,401
$3,033,109
$3,013,209
$2,992,473
$3,013,735
$2,993,318
$2,944,800
$2,914,812
$2,974,864
$2,958,323
$2,917,180
$2,931,366
$2,929,662
$2,917,033
$2,920,815
$2,897,146
$2,917,026
$2,988,245
$3,034,448
$3,024,931
$3,080,251
$3,125,468
$3,081,218
$3,121,907
$3,073,725
$3,104,714
$3,150,337
$3,098,461
$3,113,690
$3,143,613
$3,155,690
$3,163,887
$3,253,196
$3,297,873
$3,329,293
$3,406,155
$3,494,012
$3,494,698
$3,572,866
$3,614,779
$3,690,350
$3,766,638
$3,849,532
$3,938,100
Page | 19 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
C. Weighted Average 7-Day Gross Yield
10/31/2015
11/30/2015
12/31/2015
1/31/2016
2/29/2016
3/31/2016
4/30/2016
5/31/2016
6/30/2016
7/31/2016
8/31/2016
9/30/2016
10/31/2016
11/30/2016
12/31/2016
1/31/2017
2/28/2017
3/31/2017
4/30/2017
5/31/2017
6/30/2017
7/31/2017
8/31/2017
9/30/2017
10/31/2017
11/30/2017
12/31/2017
1/31/2018
2/28/2018
3/31/2018
4/30/2018
5/31/2018
6/30/2018
7/31/2018
8/31/2018
9/30/2018
10/31/2018
11/30/2018
12/31/2018
1/31/2019
2/28/2019
3/31/2019
4/30/2019
5/31/2019
6/30/2019
7/31/2019
8/31/2019
9/30/2019
10/31/2019
Prime
(Pre-Oct 2016)
0.26%
0.27%
0.41%
0.49%
0.53%
0.55%
0.55%
0.55%
0.57%
0.55%
0.57%
0.63%
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Prime
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
0.63%
0.63%
0.79%
0.84%
0.84%
0.98%
1.02%
1.03%
1.20%
1.24%
1.25%
1.25%
1.26%
1.29%
1.48%
1.55%
1.60%
1.83%
1.92%
1.97%
2.11%
2.14%
2.15%
2.23%
2.35%
2.39%
2.58%
2.61%
2.62%
2.59%
2.58%
2.54%
2.50%
2.44%
2.26%
2.13%
1.99%
Prime
Retail
.
.
.
.
.
.
.
.
.
.
.
.
0.80%
0.81%
0.93%
0.98%
0.99%
1.08%
1.14%
1.15%
1.26%
1.30%
1.31%
1.31%
1.33%
1.36%
1.56%
1.61%
1.68%
1.89%
2.01%
2.08%
2.21%
2.22%
2.24%
2.30%
2.39%
2.48%
2.62%
2.67%
2.66%
2.65%
2.63%
2.58%
2.55%
2.47%
2.30%
2.18%
2.06%
Muni
(Pre-Oct 2016)
0.07%
0.06%
0.07%
0.07%
0.08%
0.33%
0.41%
0.42%
0.46%
0.47%
0.60%
0.81%
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Muni
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
0.63%
0.59%
0.76%
0.69%
0.67%
0.86%
0.92%
0.81%
0.91%
0.84%
0.83%
0.94%
0.95%
0.98%
1.61%
1.14%
1.14%
1.48%
1.72%
1.16%
1.53%
1.08%
1.57%
1.59%
1.64%
1.74%
1.75%
1.41%
1.76%
1.53%
2.23%
1.58%
1.88%
1.47%
1.42%
1.58%
1.22%
Muni
Retail
.
.
.
.
.
.
.
.
.
.
.
.
0.70%
0.62%
0.77%
0.72%
0.71%
0.87%
0.94%
0.84%
0.93%
0.89%
0.86%
0.96%
0.97%
1.00%
1.59%
1.18%
1.16%
1.46%
1.71%
1.24%
1.53%
1.10%
1.59%
1.59%
1.66%
1.74%
1.76%
1.45%
1.78%
1.59%
2.20%
1.52%
1.88%
1.48%
1.42%
1.56%
1.26%
Government
0.15%
0.16%
0.29%
0.35%
0.38%
0.40%
0.41%
0.41%
0.45%
0.43%
0.43%
0.44%
0.44%
0.44%
0.58%
0.61%
0.62%
0.76%
0.80%
0.85%
1.01%
1.05%
1.07%
1.08%
1.10%
1.14%
1.33%
1.38%
1.44%
1.69%
1.75%
1.80%
1.95%
1.97%
2.01%
2.11%
2.22%
2.28%
2.45%
2.45%
2.47%
2.49%
2.49%
2.45%
2.43%
2.39%
2.18%
2.03%
1.89%
Treasury
0.09%
0.13%
0.25%
0.31%
0.35%
0.37%
0.35%
0.37%
0.39%
0.38%
0.38%
0.37%
0.39%
0.42%
0.53%
0.56%
0.58%
0.74%
0.78%
0.84%
1.00%
1.07%
1.05%
1.07%
1.10%
1.15%
1.32%
1.37%
1.47%
1.69%
1.74%
1.80%
1.92%
1.95%
2.01%
2.12%
2.23%
2.29%
2.44%
2.44%
2.45%
2.49%
2.48%
2.43%
2.37%
2.30%
2.14%
2.03%
1.86%
Page | 20 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
D. Weighted Average 7-Day Net Yield
10/31/2015
11/30/2015
12/31/2015
1/31/2016
2/29/2016
3/31/2016
4/30/2016
5/31/2016
6/30/2016
7/31/2016
8/31/2016
9/30/2016
10/31/2016
11/30/2016
12/31/2016
1/31/2017
2/28/2017
3/31/2017
4/30/2017
5/31/2017
6/30/2017
7/31/2017
8/31/2017
9/30/2017
10/31/2017
11/30/2017
12/31/2017
1/31/2018
2/28/2018
3/31/2018
4/30/2018
5/31/2018
6/30/2018
7/31/2018
8/31/2018
9/30/2018
10/31/2018
11/30/2018
12/31/2018
1/31/2019
2/28/2019
3/31/2019
4/30/2019
5/31/2019
6/30/2019
7/31/2019
8/31/2019
9/30/2019
10/31/2019
Prime
(Pre-Oct 2016)
0.09%
0.11%
0.22%
0.29%
0.32%
0.33%
0.34%
0.34%
0.35%
0.34%
0.35%
0.40%
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Prime
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
0.52%
0.56%
0.71%
0.76%
0.76%
0.91%
0.95%
0.96%
1.13%
1.16%
1.17%
1.17%
1.18%
1.21%
1.40%
1.46%
1.51%
1.75%
1.85%
1.89%
2.03%
2.05%
2.06%
2.14%
2.25%
2.30%
2.49%
2.52%
2.52%
2.52%
2.50%
2.46%
2.42%
2.36%
2.18%
2.05%
1.90%
Prime
Retail
.
.
.
.
.
.
.
.
.
.
.
.
0.44%
0.43%
0.54%
0.58%
0.60%
0.69%
0.76%
0.77%
0.88%
0.93%
0.94%
0.94%
0.97%
1.01%
1.20%
1.27%
1.34%
1.57%
1.70%
1.78%
1.91%
1.93%
1.95%
2.02%
2.12%
2.20%
2.35%
2.40%
2.39%
2.39%
2.37%
2.32%
2.28%
2.21%
2.05%
1.92%
1.80%
Muni
(Pre-Oct 2016)
0.01%
0.01%
0.01%
0.01%
0.01%
0.06%
0.09%
0.10%
0.12%
0.13%
0.23%
0.43%
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Muni
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
0.53%
0.49%
0.65%
0.58%
0.56%
0.76%
0.82%
0.70%
0.80%
0.73%
0.71%
0.83%
0.82%
0.87%
1.45%
1.01%
1.01%
1.35%
1.58%
1.03%
1.39%
0.94%
1.44%
1.45%
1.51%
1.62%
1.63%
1.29%
1.63%
1.41%
2.10%
1.45%
1.75%
1.34%
1.30%
1.45%
1.10%
Muni
Retail
.
.
.
.
.
.
.
.
.
.
.
.
0.31%
0.24%
0.37%
0.33%
0.31%
0.49%
0.55%
0.46%
0.56%
0.52%
0.49%
0.58%
0.62%
0.66%
1.23%
0.85%
0.82%
1.12%
1.39%
0.93%
1.22%
0.79%
1.28%
1.28%
1.36%
1.44%
1.46%
1.16%
1.49%
1.31%
1.92%
1.24%
1.60%
1.21%
1.14%
1.28%
0.98%
Government
0.02%
0.02%
0.06%
0.09%
0.11%
0.13%
0.13%
0.13%
0.17%
0.17%
0.18%
0.21%
0.21%
0.21%
0.32%
0.35%
0.35%
0.51%
0.53%
0.57%
0.73%
0.77%
0.79%
0.81%
0.82%
0.86%
1.05%
1.10%
1.15%
1.40%
1.46%
1.52%
1.67%
1.69%
1.72%
1.83%
1.94%
1.99%
2.16%
2.17%
2.18%
2.21%
2.21%
2.17%
2.15%
2.10%
1.91%
1.76%
1.62%
Treasury
0.00%
0.01%
0.06%
0.10%
0.13%
0.14%
0.14%
0.15%
0.17%
0.16%
0.16%
0.16%
0.17%
0.20%
0.29%
0.32%
0.33%
0.49%
0.53%
0.59%
0.75%
0.82%
0.81%
0.82%
0.85%
0.91%
1.08%
1.13%
1.23%
1.45%
1.50%
1.56%
1.69%
1.72%
1.78%
1.89%
2.00%
2.05%
2.21%
2.21%
2.23%
2.26%
2.25%
2.21%
2.15%
2.07%
1.91%
1.80%
1.64%
Page | 21 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
E. Weighted Average Life, in days (a measure of credit sensitivity)
10/31/2015
11/30/2015
12/31/2015
1/31/2016
2/29/2016
3/31/2016
4/30/2016
5/31/2016
6/30/2016
7/31/2016
8/31/2016
9/30/2016
10/31/2016
11/30/2016
12/31/2016
1/31/2017
2/28/2017
3/31/2017
4/30/2017
5/31/2017
6/30/2017
7/31/2017
8/31/2017
9/30/2017
10/31/2017
11/30/2017
12/31/2017
1/31/2018
2/28/2018
3/31/2018
4/30/2018
5/31/2018
6/30/2018
7/31/2018
8/31/2018
9/30/2018
10/31/2018
11/30/2018
12/31/2018
1/31/2019
2/28/2019
3/31/2019
4/30/2019
5/31/2019
6/30/2019
7/31/2019
8/31/2019
9/30/2019
10/31/2019
Prime
(Pre-Oct 2016)
70.1
66.7
57.6
60.0
58.5
55.5
51.7
46.8
45.1
39.8
36.5
42.9
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Prime
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
52.8
55.0
54.1
53.8
50.7
53.4
53.7
52.8
57.1
57.7
56.5
55.3
57.2
58.2
57.8
56.7
53.0
55.2
51.3
49.8
53.0
54.8
57.1
59.0
56.0
59.3
58.1
58.4
59.0
56.9
56.4
60.1
58.2
58.8
61.5
62.1
65.7
Prime
Retail
.
.
.
.
.
.
.
.
.
.
.
.
67.0
71.5
70.2
68.6
69.2
68.1
66.0
70.8
76.0
76.1
75.3
72.1
70.2
74.3
69.9
65.8
69.0
72.5
65.7
65.1
66.6
62.5
64.2
66.8
65.0
73.5
62.9
62.0
64.0
67.0
62.5
63.1
62.8
62.9
66.9
72.8
76.7
Muni
(Pre-Oct 2016)
34.3
31.7
29.4
28.1
26.4
26.9
23.4
21.1
25.3
26.7
29.0
27.5
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Muni
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
14.1
15.6
16.9
15.2
15.2
14.3
12.4
10.9
11.1
10.0
12.7
14.1
14.3
14.6
17.2
13.3
13.1
13.4
10.4
11.2
10.5
10.7
9.8
11.7
13.3
14.3
13.9
12.9
14.0
14.6
12.9
14.1
14.1
12.8
14.0
16.2
19.5
Muni
Retail
.
.
.
.
.
.
.
.
.
.
.
.
27.0
28.1
29.3
27.9
26.8
24.5
22.9
20.3
24.1
24.7
30.5
29.4
27.1
28.1
30.8
27.1
26.2
26.6
24.0
23.9
25.1
24.0
25.6
32.1
32.6
31.2
29.2
29.6
27.9
27.6
25.1
25.0
32.5
31.4
37.2
38.5
41.7
Government
94.3
87.9
86.7
89.4
92.1
96.0
95.4
95.4
97.0
98.7
97.4
93.4
93.1
93.8
95.1
94.6
91.3
88.7
84.8
82.0
84.4
86.1
85.2
84.0
80.3
86.2
89.6
91.4
90.4
90.2
86.3
82.1
84.9
83.3
84.2
86.8
87.8
86.0
87.2
85.7
88.2
93.0
90.9
93.3
95.5
94.7
97.0
98.1
97.7
Treasury
83.1
80.6
83.2
88.3
93.4
94.7
94.8
94.5
102.8
98.9
99.7
97.3
98.0
96.8
98.6
100.1
98.2
95.5
89.5
87.1
94.6
89.6
90.2
90.6
86.5
82.8
86.7
88.9
89.3
93.3
90.8
92.1
94.0
90.5
93.5
93.5
91.9
89.2
90.9
93.1
92.4
92.5
92.8
91.2
91.1
93.7
97.0
95.2
98.7
Page | 22 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
F. Weighted Average Maturity, in days (a measure of interest rate sensitivity)
10/31/2015
11/30/2015
12/31/2015
1/31/2016
2/29/2016
3/31/2016
4/30/2016
5/31/2016
6/30/2016
7/31/2016
8/31/2016
9/30/2016
10/31/2016
11/30/2016
12/31/2016
1/31/2017
2/28/2017
3/31/2017
4/30/2017
5/31/2017
6/30/2017
7/31/2017
8/31/2017
9/30/2017
10/31/2017
11/30/2017
12/31/2017
1/31/2018
2/28/2018
3/31/2018
4/30/2018
5/31/2018
6/30/2018
7/31/2018
8/31/2018
9/30/2018
10/31/2018
11/30/2018
12/31/2018
1/31/2019
2/28/2019
3/31/2019
4/30/2019
5/31/2019
6/30/2019
7/31/2019
8/31/2019
9/30/2019
10/31/2019
Prime
(Pre-Oct 2016)
35.8
32.8
30.6
34.5
35.2
35.1
33.4
30.5
29.0
24.8
21.8
25.8
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Prime
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
28.3
27.1
24.4
24.8
22.9
23.0
24.8
22.3
23.8
25.7
25.7
23.7
22.3
23.3
25.0
24.0
23.0
26.4
24.5
22.2
25.4
27.6
27.9
28.0
25.7
27.7
25.8
27.6
29.0
33.3
32.9
33.6
32.4
32.2
32.6
31.0
34.1
Prime
Retail
.
.
.
.
.
.
.
.
.
.
.
.
44.8
44.0
39.6
38.3
37.9
33.4
33.6
38.2
40.2
39.3
37.8
34.0
33.8
35.3
35.7
31.6
31.8
35.2
30.9
32.3
34.5
33.5
36.1
34.3
29.9
35.4
32.3
34.1
34.8
39.4
34.2
32.7
32.9
32.9
36.7
40.7
43.5
Muni
(Pre-Oct 2016)
32.1
29.2
27.4
26.1
23.8
23.4
21.2
18.4
23.3
24.9
26.6
24.9
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Muni
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
13.6
14.9
15.9
14.3
14.5
13.7
11.7
10.5
10.4
9.4
12.1
13.4
13.6
14.1
16.5
12.8
12.7
12.8
9.8
10.9
10.2
9.8
9.2
11.4
12.9
14.1
13.5
12.5
13.5
14.2
12.6
13.8
13.7
12.4
13.8
15.9
19.1
Muni
Retail
.
.
.
.
.
.
.
.
.
.
.
.
24.6
25.7
27.1
25.3
23.8
21.9
20.2
17.3
21.3
21.8
27.4
26.8
24.5
25.7
28.7
24.9
24.0
24.5
21.0
21.2
22.1
20.2
22.3
28.8
30.0
29.0
27.2
27.5
25.4
25.3
22.7
22.6
30.6
28.9
34.7
35.9
39.2
Government
37.8
37.0
38.6
37.9
39.2
39.8
39.8
38.9
39.4
39.5
39.1
40.4
41.8
42.2
45.0
42.3
40.0
38.1
34.8
31.2
32.0
31.2
29.7
30.3
28.8
30.1
31.8
29.5
28.9
32.2
28.5
27.0
29.3
27.6
28.6
33.3
32.2
31.0
30.3
27.0
26.8
29.7
28.0
27.6
27.6
26.8
27.6
29.8
31.8
Treasury
43.2
39.8
42.6
41.4
44.7
44.6
42.2
39.3
43.0
42.3
45.3
46.2
46.5
46.0
47.0
46.6
43.1
40.2
36.3
33.3
37.7
34.8
35.8
36.5
33.1
31.3
34.9
34.6
36.9
37.1
34.6
34.0
36.1
31.8
32.5
33.6
32.2
29.6
31.4
32.5
31.6
32.4
31.8
32.5
31.7
33.4
36.1
36.9
40.9
Page | 23 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
G. Daily Liquid Assets as Percent of Total Assets
(As municipal funds do not have a daily liquidity requirement, their daily liquidity statistics are not included here.)
10/31/2015
11/30/2015
12/31/2015
1/31/2016
2/29/2016
3/31/2016
4/30/2016
5/31/2016
6/30/2016
7/31/2016
8/31/2016
9/30/2016
10/31/2016
11/30/2016
12/31/2016
1/31/2017
2/28/2017
3/31/2017
4/30/2017
5/31/2017
6/30/2017
7/31/2017
8/31/2017
9/30/2017
10/31/2017
11/30/2017
12/31/2017
1/31/2018
2/28/2018
3/31/2018
4/30/2018
5/31/2018
6/30/2018
7/31/2018
8/31/2018
9/30/2018
10/31/2018
11/30/2018
12/31/2018
1/31/2019
2/28/2019
3/31/2019
4/30/2019
5/31/2019
6/30/2019
7/31/2019
8/31/2019
9/30/2019
10/31/2019
Prime
(Pre-Oct 2016)
27.5%
30.1%
32.3%
27.9%
30.7%
31.0%
32.7%
32.7%
31.0%
34.8%
38.9%
43.0%
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Prime
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
41.4%
37.8%
41.0%
38.5%
37.8%
41.4%
33.7%
39.7%
41.9%
36.6%
35.7%
40.1%
37.9%
37.7%
38.5%
31.7%
33.9%
35.1%
37.2%
34.9%
36.7%
36.4%
40.1%
37.0%
39.3%
37.8%
37.9%
40.2%
40.0%
41.2%
39.9%
37.6%
37.8%
38.4%
39.3%
37.6%
37.7%
Prime
Retail
.
.
.
.
.
.
.
.
.
.
.
.
30.3%
25.9%
30.3%
28.4%
25.8%
28.6%
23.2%
27.8%
27.9%
26.6%
26.5%
29.2%
27.1%
25.0%
29.8%
22.4%
26.1%
26.7%
25.2%
20.8%
21.2%
23.9%
27.8%
23.1%
22.4%
25.7%
30.6%
27.0%
27.5%
27.6%
26.0%
23.6%
21.5%
22.2%
24.7%
25.5%
25.1%
Government
32.5%
39.6%
37.0%
31.3%
32.2%
34.2%
32.0%
32.0%
35.0%
32.6%
40.0%
46.7%
47.3%
46.4%
49.3%
43.6%
44.2%
47.3%
44.0%
45.1%
44.8%
41.2%
42.4%
42.4%
43.8%
42.6%
45.9%
40.9%
44.3%
47.0%
46.3%
46.8%
44.8%
44.5%
47.1%
46.8%
46.7%
46.2%
48.7%
47.4%
46.8%
43.9%
42.9%
42.3%
43.1%
45.1%
47.6%
46.6%
47.0%
Treasury
92.6%
93.8%
96.0%
93.8%
94.4%
95.7%
91.2%
93.3%
94.1%
90.1%
92.9%
93.3%
93.5%
93.1%
94.4%
93.5%
93.0%
94.5%
89.7%
91.1%
93.2%
91.4%
90.2%
91.8%
90.7%
91.2%
93.4%
91.4%
91.1%
92.4%
91.6%
91.0%
91.0%
90.8%
92.3%
91.7%
92.1%
91.6%
93.5%
92.5%
92.0%
92.2%
91.5%
90.7%
90.2%
90.3%
91.0%
91.3%
91.9%
Page | 24 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
H. Weekly Liquid Assets as Percent of Total Assets
10/31/2015
11/30/2015
12/31/2015
1/31/2016
2/29/2016
3/31/2016
4/30/2016
5/31/2016
6/30/2016
7/31/2016
8/31/2016
9/30/2016
10/31/2016
11/30/2016
12/31/2016
1/31/2017
2/28/2017
3/31/2017
4/30/2017
5/31/2017
6/30/2017
7/31/2017
8/31/2017
9/30/2017
10/31/2017
11/30/2017
12/31/2017
1/31/2018
2/28/2018
3/31/2018
4/30/2018
5/31/2018
6/30/2018
7/31/2018
8/31/2018
9/30/2018
10/31/2018
11/30/2018
12/31/2018
1/31/2019
2/28/2019
3/31/2019
4/30/2019
5/31/2019
6/30/2019
7/31/2019
8/31/2019
9/30/2019
10/31/2019
Prime
(Pre-Oct 2016)
41.7%
43.0%
45.3%
42.6%
42.9%
44.7%
45.8%
48.0%
49.0%
53.7%
62.3%
62.5%
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Prime
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
58.0%
57.5%
58.8%
56.0%
56.2%
56.1%
54.3%
54.7%
56.5%
55.7%
54.7%
56.0%
55.8%
55.4%
55.1%
53.6%
54.7%
54.0%
55.6%
54.8%
54.4%
55.1%
55.5%
54.3%
55.1%
54.0%
54.0%
54.6%
54.3%
55.8%
54.2%
52.6%
53.7%
53.1%
54.5%
53.8%
52.5%
Prime
Retail
.
.
.
.
.
.
.
.
.
.
.
.
45.2%
43.6%
42.9%
43.0%
42.8%
43.3%
41.6%
42.7%
41.9%
41.3%
41.5%
45.2%
44.1%
44.0%
44.7%
44.4%
44.9%
41.6%
41.7%
41.2%
41.0%
41.9%
42.0%
42.7%
42.8%
40.1%
43.3%
41.6%
42.4%
41.2%
41.2%
41.5%
40.6%
40.6%
42.5%
41.9%
39.2%
Muni
(Pre-Oct 2016)
66.4%
79.8%
79.9%
66.5%
79.5%
79.5%
68.0%
79.6%
81.0%
77.2%
79.8%
78.6%
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Muni
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
93.1%
90.4%
90.5%
91.3%
89.1%
88.2%
85.5%
90.0%
92.9%
90.3%
91.1%
83.6%
88.3%
89.5%
85.4%
87.4%
87.1%
84.3%
89.8%
88.7%
90.3%
85.4%
91.6%
86.4%
89.1%
88.9%
87.5%
89.6%
88.8%
87.5%
84.9%
87.2%
86.2%
86.0%
86.6%
84.8%
87.5%
Muni
Retail
.
.
.
.
.
.
.
.
.
.
.
.
79.1%
79.0%
77.3%
76.5%
76.8%
79.2%
75.8%
80.2%
80.6%
79.5%
77.7%
66.0%
78.4%
79.3%
76.3%
78.0%
77.7%
74.3%
75.4%
76.7%
77.4%
78.3%
79.4%
76.2%
76.4%
77.4%
76.7%
74.4%
76.4%
75.5%
74.8%
76.2%
74.6%
76.1%
75.1%
74.3%
73.2%
Government
58.2%
64.7%
61.5%
60.9%
61.6%
59.3%
57.4%
59.3%
58.9%
58.2%
63.9%
67.6%
69.5%
68.8%
68.4%
67.3%
68.8%
68.6%
69.2%
69.7%
68.4%
67.5%
66.8%
67.8%
70.8%
69.8%
70.0%
70.6%
70.7%
69.7%
70.5%
71.3%
69.9%
70.9%
72.4%
70.4%
70.8%
71.8%
71.6%
70.6%
70.7%
69.3%
69.2%
69.3%
69.8%
69.8%
71.8%
71.9%
70.5%
Treasury
99.0%
99.3%
99.8%
98.9%
99.5%
99.5%
95.5%
99.0%
98.9%
96.0%
98.6%
98.6%
98.4%
98.5%
98.4%
98.6%
98.7%
99.0%
96.1%
98.3%
99.2%
98.9%
98.3%
98.2%
97.8%
99.0%
98.4%
98.0%
97.8%
97.7%
98.4%
98.5%
98.6%
98.0%
98.8%
98.3%
98.2%
99.0%
98.8%
98.2%
98.1%
98.2%
98.2%
98.6%
97.7%
97.9%
97.6%
98.2%
98.6%
Page | 25 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
I.
Prime MMFs Holdings of Bank-Related Securities by Country (Millions)
(Bank-related securities include Certificates of Deposit, Time Deposits, sponsored ABCP, and repurchase agreements where the
bank is the counterparty)
10/31/2015
11/30/2015
12/31/2015
1/31/2016
2/29/2016
3/31/2016
4/30/2016
5/31/2016
6/30/2016
7/31/2016
8/31/2016
9/30/2016
10/31/2016
11/30/2016
12/31/2016
1/31/2017
2/28/2017
3/31/2017
4/30/2017
5/31/2017
6/30/2017
7/31/2017
8/31/2017
9/30/2017
10/31/2017
11/30/2017
12/31/2017
1/31/2018
2/28/2018
3/31/2018
4/30/2018
5/31/2018
6/30/2018
7/31/2018
8/31/2018
9/30/2018
10/31/2018
11/30/2018
12/31/2018
1/31/2019
2/28/2019
3/31/2019
4/30/2019
5/31/2019
6/30/2019
7/31/2019
8/31/2019
9/30/2019
10/31/2019
US
$186,642
$188,746
$187,704
$182,104
$190,935
$176,293
$171,482
$149,185
$143,672
$127,698
$100,567
$77,117
$55,269
$52,839
$58,507
$58,023
$53,922
$56,244
$61,042
$57,170
$59,305
$60,935
$61,380
$55,743
$60,851
$65,019
$67,441
$72,365
$63,838
$67,938
$66,189
$68,373
$66,379
$66,236
$71,812
$71,210
$77,403
$83,356
$92,821
$95,330
$94,814
$104,601
$117,416
$117,860
$121,447
$125,557
$126,532
$132,839
$124,574
PrimeAust/NZ
$89,622
$88,191
$87,351
$84,278
$81,949
$68,987
$71,449
$62,106
$63,142
$60,820
$50,344
$37,403
$28,265
$29,012
$34,539
$33,000
$35,300
$38,773
$39,134
$37,442
$38,208
$36,520
$38,688
$41,342
$40,871
$42,365
$47,085
$42,414
$39,232
$39,869
$36,711
$32,490
$35,652
$28,949
$30,607
$31,444
$33,813
$39,065
$40,161
$35,925
$35,982
$35,983
$33,793
$36,074
$38,184
$39,932
$43,535
$44,718
$50,044
Canada
$188,570
$199,736
$183,189
$177,634
$181,858
$165,549
$139,091
$141,828
$137,677
$112,577
$99,785
$76,796
$56,307
$60,293
$70,573
$64,246
$66,475
$81,099
$68,858
$69,156
$80,402
$79,390
$76,927
$84,706
$78,528
$93,097
$101,879
$88,728
$89,252
$90,298
$84,856
$89,509
$91,761
$85,975
$90,422
$105,020
$98,542
$103,346
$123,301
$105,743
$112,401
$118,719
$124,289
$129,517
$147,844
$150,648
$144,809
$158,389
$148,637
France
$188,032
$179,724
$104,508
$181,821
$190,173
$132,379
$177,840
$164,771
$111,480
$157,244
$145,490
$55,565
$53,223
$57,610
$41,649
$55,054
$62,096
$47,431
$59,551
$63,174
$45,291
$56,574
$64,906
$54,480
$63,416
$65,718
$39,108
$62,068
$63,537
$50,320
$61,343
$56,732
$48,019
$60,509
$59,673
$60,898
$78,202
$68,335
$53,809
$75,596
$79,765
$65,434
$86,468
$86,740
$72,379
$96,063
$90,541
$75,210
$84,959
Germany
$46,715
$38,772
$32,739
$43,463
$46,675
$50,440
$53,344
$53,837
$44,286
$48,879
$39,497
$28,727
$23,749
$22,680
$19,868
$25,345
$26,524
$26,119
$25,048
$25,561
$18,840
$27,019
$28,424
$29,824
$28,244
$33,112
$24,540
$28,744
$27,239
$30,199
$31,266
$34,619
$32,600
$34,956
$34,339
$35,392
$40,330
$39,566
$23,065
$31,019
$31,393
$40,059
$41,331
$43,623
$42,936
$51,370
$53,506
$56,037
$52,809
Japan
$178,992
$172,077
$162,264
$161,629
$156,241
$163,308
$159,432
$160,888
$145,936
$128,902
$87,568
$50,429
$47,863
$43,767
$44,763
$43,610
$44,909
$47,452
$48,325
$47,673
$49,401
$48,260
$48,492
$51,631
$50,062
$54,121
$51,882
$50,203
$55,237
$53,094
$57,737
$64,388
$59,551
$65,719
$66,409
$71,200
$68,986
$71,141
$83,019
$103,889
$88,977
$86,889
$99,667
$99,894
$96,784
$102,070
$104,337
$105,129
$113,382
Netherlands
$53,497
$50,962
$43,484
$50,000
$50,163
$49,837
$47,800
$44,629
$39,564
$35,698
$28,035
$23,803
$20,252
$21,795
$12,350
$16,778
$16,373
$16,410
$19,921
$21,388
$16,196
$24,212
$31,501
$21,272
$34,688
$29,178
$14,462
$36,648
$33,060
$28,967
$28,094
$29,163
$18,954
$36,348
$32,119
$29,567
$26,881
$23,774
$15,576
$32,848
$25,027
$32,465
$31,575
$31,680
$28,774
$38,179
$35,335
$37,388
$47,246
Switzerland
$46,285
$45,123
$31,781
$41,933
$47,716
$41,728
$40,081
$36,550
$29,145
$33,991
$24,611
$13,239
$12,274
$10,491
$11,287
$11,769
$12,045
$10,892
$14,838
$16,209
$15,530
$12,878
$14,699
$15,014
$16,699
$15,789
$16,354
$20,878
$23,998
$18,139
$30,528
$25,283
$17,792
$19,943
$18,993
$10,678
$20,441
$21,244
$23,882
$24,041
$29,481
$21,610
$28,371
$26,039
$21,892
$26,116
$24,212
$21,447
$23,070
UK
$73,738
$73,477
$57,684
$77,124
$74,990
$63,814
$69,096
$63,438
$57,450
$52,566
$40,598
$30,229
$25,672
$21,786
$13,580
$24,091
$20,550
$18,155
$25,945
$26,238
$23,052
$25,745
$26,002
$29,727
$31,297
$32,885
$30,506
$32,517
$35,451
$37,838
$38,762
$41,567
$31,895
$41,350
$44,571
$38,307
$46,233
$49,361
$35,439
$42,278
$44,540
$44,462
$40,256
$42,591
$48,687
$52,217
$45,844
$38,845
$54,457
Page | 26 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
J.
Prime MMFs Holdings of Bank-Related Securities by Region (Millions)
(Bank-related securities include Certificates of Deposit, Time Deposits, sponsored ABCP, and repurchase agreements where the
bank is the counterparty)
10/31/2015
11/30/2015
12/31/2015
1/31/2016
2/29/2016
3/31/2016
4/30/2016
5/31/2016
6/30/2016
7/31/2016
8/31/2016
9/30/2016
10/31/2016
11/30/2016
12/31/2016
1/31/2017
2/28/2017
3/31/2017
4/30/2017
5/31/2017
6/30/2017
7/31/2017
8/31/2017
9/30/2017
10/31/2017
11/30/2017
12/31/2017
1/31/2018
2/28/2018
3/31/2018
4/30/2018
5/31/2018
6/30/2018
7/31/2018
8/31/2018
9/30/2018
10/31/2018
11/30/2018
12/31/2018
1/31/2019
2/28/2019
3/31/2019
4/30/2019
5/31/2019
6/30/2019
7/31/2019
8/31/2019
9/30/2019
10/31/2019
Americas
$377,808
$390,944
$373,214
$361,722
$374,976
$344,016
$312,791
$292,675
$282,750
$241,745
$201,539
$154,358
$112,169
$113,736
$129,780
$122,864
$121,228
$138,311
$130,493
$126,919
$140,245
$140,817
$138,973
$140,983
$140,003
$158,724
$170,109
$161,705
$153,706
$158,769
$151,589
$158,603
$158,796
$152,778
$162,949
$177,159
$176,629
$187,242
$216,933
$201,638
$207,744
$223,911
$242,298
$247,995
$269,958
$276,953
$272,044
$291,799
$273,724
Asia/Pacific
$294,191
$285,591
$279,261
$272,201
$262,077
$257,902
$255,496
$250,898
$241,802
$219,437
$161,803
$98,569
$84,255
$80,532
$88,706
$86,155
$90,201
$97,042
$98,436
$95,203
$101,940
$98,346
$100,476
$107,721
$103,269
$109,930
$114,197
$104,374
$107,348
$106,762
$108,511
$109,848
$110,025
$109,968
$111,847
$119,718
$118,456
$124,768
$138,113
$153,648
$139,543
$141,483
$152,893
$159,125
$161,272
$166,073
$172,319
$175,800
$189,872
Europe
$586,639
$549,831
$339,225
$564,923
$584,937
$454,696
$571,371
$545,708
$391,986
$478,183
$414,665
$218,682
$189,513
$189,359
$132,221
$191,920
$204,219
$186,298
$216,358
$222,292
$178,741
$210,819
$236,187
$219,908
$247,709
$243,457
$172,127
$244,751
$246,462
$213,557
$254,940
$243,385
$213,975
$255,767
$252,776
$234,910
$276,946
$268,842
$202,689
$275,567
$290,111
$276,147
$293,622
$287,404
$277,733
$316,676
$309,117
$287,765
$326,857
Eurozone
$302,055
$284,337
$186,618
$291,871
$304,889
$242,342
$297,202
$281,622
$202,039
$256,238
$227,798
$110,519
$102,615
$108,089
$78,415
$107,601
$115,993
$95,304
$117,210
$122,851
$86,779
$120,468
$137,561
$112,538
$141,263
$141,678
$86,732
$140,569
$135,413
$115,255
$130,595
$127,890
$106,821
$140,067
$134,998
$133,740
$158,020
$146,213
$103,413
$155,848
$151,140
$146,045
$169,148
$168,830
$152,257
$195,315
$189,711
$178,434
$197,058
Page | 27 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
K. Prime Funds Portfolio Composition
10/31/2015
11/30/2015
12/31/2015
1/31/2016
2/29/2016
3/31/2016
4/30/2016
5/31/2016
6/30/2016
7/31/2016
8/31/2016
9/30/2016
10/31/2016
11/30/2016
12/31/2016
1/31/2017
2/28/2017
3/31/2017
4/30/2017
5/31/2017
6/30/2017
7/31/2017
8/31/2017
9/30/2017
10/31/2017
11/30/2017
12/31/2017
1/31/2018
2/28/2018
3/31/2018
4/30/2018
5/31/2018
6/30/2018
7/31/2018
8/31/2018
9/30/2018
10/31/2018
11/30/2018
12/31/2018
1/31/2019
2/28/2019
3/31/2019
4/30/2019
5/31/2019
6/30/2019
7/31/2019
8/31/2019
9/30/2019
10/31/2019
Asset-Backed
$97,867
$98,101
$100,001
$97,175
$99,442
$99,407
$93,903
$88,388
$82,300
$70,826
$50,509
$32,234
$31,214
$32,613
$32,515
$31,280
$31,882
$31,470
$34,261
$34,915
$38,005
$37,676
$41,166
$38,080
$38,932
$40,230
$41,367
$41,962
$40,185
$39,885
$38,018
$41,658
$41,932
$44,428
$45,757
$47,464
$46,840
$51,916
$55,236
$58,251
$59,125
$58,043
$59,523
$61,954
$62,729
$63,881
$63,801
$63,541
$62,922
CDs and Time Deposits
$536,390
$508,976
$448,039
$502,491
$509,330
$470,149
$633,856
$610,881
$493,649
$528,712
$458,565
$260,280
$212,463
$211,101
$191,495
$232,349
$243,982
$245,654
$259,185
$257,741
$231,652
$255,799
$271,275
$263,070
$279,090
$283,618
$229,575
$265,761
$256,631
$222,924
$242,621
$227,305
$230,096
$243,998
$240,445
$246,243
$262,769
$263,039
$245,797
$289,433
$297,990
$282,832
$298,736
$302,632
$321,788
$320,312
$333,346
$316,338
$332,718
Financial Co. CP
$244,734
$232,774
$212,028
$233,403
$229,720
$223,813
$228,874
$219,174
$191,981
$179,301
$141,475
$86,118
$86,686
$86,079
$78,677
$86,938
$94,693
$100,704
$102,998
$103,142
$101,583
$103,858
$118,815
$115,276
$119,279
$126,694
$125,719
$141,637
$143,571
$132,047
$142,426
$146,700
$143,163
$153,108
$150,485
$153,670
$156,687
$156,449
$149,081
$160,741
$167,806
$186,910
$192,077
$196,984
$205,101
$216,601
$213,464
$226,710
$236,409
Gov& Treas (Direct & Repo)
$482,490
$475,131
$511,341
$338,219
$338,413
$409,466
$296,958
$283,012
$315,884
$276,786
$220,096
$222,935
$125,909
$125,233
$138,081
$105,944
$109,092
$122,938
$105,465
$120,056
$154,742
$136,482
$117,587
$150,153
$137,314
$132,108
$162,539
$120,823
$123,698
$161,875
$163,528
$161,880
$158,911
$156,450
$189,323
$186,679
$172,413
$190,315
$212,784
$216,162
$244,638
$313,254
$310,274
$301,045
$281,563
$290,662
$310,125
$326,320
$322,149
Non-Financial Co. CP & Other
$423,476
$408,991
$284,518
$393,273
$413,816
$301,876
$214,119
$211,359
$188,373
$177,183
$159,002
$129,102
$106,548
$112,738
$104,516
$104,006
$104,009
$93,170
$101,768
$94,616
$83,467
$88,453
$92,259
$93,851
$95,196
$95,698
$98,792
$97,725
$104,043
$98,970
$97,577
$104,614
$95,339
$109,146
$104,427
$109,552
$107,399
$106,553
$99,885
$99,421
$109,297
$130,053
$140,941
$145,395
$147,701
$149,012
$139,889
$141,652
$150,009
Page | 28 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
L. Government and Treasury MMFs Bank Repo Counterparties by Country (Millions)
10/31/2015
11/30/2015
12/31/2015
1/31/2016
2/29/2016
3/31/2016
4/30/2016
5/31/2016
6/30/2016
7/31/2016
8/31/2016
9/30/2016
10/31/2016
11/30/2016
12/31/2016
1/31/2017
2/28/2017
3/31/2017
4/30/2017
5/31/2017
6/30/2017
7/31/2017
8/31/2017
9/30/2017
10/31/2017
11/30/2017
12/31/2017
1/31/2018
2/28/2018
3/31/2018
4/30/2018
5/31/2018
6/30/2018
7/31/2018
8/31/2018
9/30/2018
10/31/2018
11/30/2018
12/31/2018
1/31/2019
2/28/2019
3/31/2019
4/30/2019
5/31/2019
6/30/2019
7/31/2019
8/31/2019
9/30/2019
10/31/2019
US
$81,216
$71,254
$72,819
$80,633
$87,553
$75,401
$90,436
$85,123
$88,294
$93,632
$105,961
$112,594
$132,097
$128,844
$104,212
$130,451
$131,586
$116,938
$137,250
$133,525
$114,103
$130,405
$137,777
$118,168
$127,641
$135,630
$127,784
$145,412
$143,112
$126,073
$156,306
$154,607
$153,799
$152,204
$143,524
$149,194
$142,819
$141,938
$172,218
$174,729
$174,532
$191,597
$194,493
$202,323
$209,488
$221,779
$218,087
$237,238
$183,086
Canada
$32,669
$43,154
$44,675
$43,594
$50,817
$49,567
$54,482
$59,950
$72,381
$63,254
$75,811
$75,405
$67,885
$90,774
$92,700
$87,787
$97,761
$103,416
$107,535
$116,243
$113,489
$103,509
$113,874
$119,790
$115,055
$125,604
$148,809
$128,353
$124,849
$130,753
$118,552
$127,472
$144,331
$126,428
$124,626
$140,200
$122,622
$147,878
$165,790
$145,025
$154,948
$165,671
$140,438
$145,633
$164,072
$130,254
$162,535
$167,036
$146,460
France
$96,394
$90,241
$37,590
$108,133
$120,096
$55,583
$125,243
$123,910
$71,196
$148,439
$173,611
$99,395
$180,878
$167,053
$77,674
$184,044
$187,092
$114,987
$193,548
$189,492
$125,437
$200,030
$219,808
$165,379
$241,971
$245,902
$111,718
$219,634
$222,224
$181,170
$236,494
$255,834
$193,276
$244,641
$230,774
$185,394
$223,488
$208,925
$133,126
$224,616
$218,945
$172,279
$217,538
$223,616
$180,025
$232,459
$239,271
$196,717
$235,668
Germany
$459
$304
$2,065
$4,799
$8,047
$6,562
$9,869
$12,319
$9,752
$15,518
$20,024
$15,168
$35,712
$27,923
$10,245
$23,358
$22,619
$13,631
$19,389
$20,078
$15,246
$21,802
$17,610
$18,940
$21,235
$28,452
$26,666
$36,939
$24,839
$15,336
$17,080
$20,538
$10,811
$25,969
$23,176
$18,349
$24,319
$25,172
$15,324
$20,829
$19,726
$23,105
$18,231
$19,619
$18,738
$19,306
$20,924
$22,175
$20,323
Japan
$11,401
$9,633
$11,037
$17,507
$17,711
$12,854
$24,977
$25,534
$24,498
$34,739
$37,760
$54,025
$66,141
$75,887
$66,718
$77,648
$80,995
$82,655
$94,710
$98,886
$97,700
$103,244
$112,436
$99,545
$105,813
$109,140
$115,001
$115,405
$120,500
$104,153
$120,370
$115,758
$126,228
$136,361
$138,966
$135,127
$136,083
$134,738
$135,124
$141,194
$134,044
$123,776
$134,708
$138,983
$130,722
$138,225
$144,041
$136,418
$149,304
UK
$19,277
$20,116
$15,345
$18,305
$20,984
$17,145
$24,413
$28,005
$24,165
$37,409
$41,857
$53,088
$49,231
$44,514
$26,148
$50,601
$47,247
$34,403
$62,132
$73,356
$63,456
$74,542
$75,479
$55,796
$81,658
$84,129
$76,159
$95,388
$101,836
$100,646
$108,941
$104,044
$86,101
$95,907
$104,708
$93,072
$97,201
$96,941
$89,441
$102,066
$98,835
$89,430
$99,874
$100,880
$98,275
$115,385
$116,497
$88,516
$73,461
Other
$34,908
$23,683
$9,874
$28,928
$31,294
$13,504
$29,612
$30,664
$13,089
$32,028
$38,445
$19,981
$40,666
$38,058
$16,399
$38,485
$29,261
$22,336
$39,740
$37,838
$28,061
$41,148
$50,101
$36,585
$51,138
$56,463
$28,411
$55,246
$54,364
$35,832
$45,286
$48,050
$33,673
$52,903
$50,489
$36,669
$50,147
$44,590
$38,148
$44,497
$44,441
$29,363
$41,845
$37,886
$32,167
$37,889
$35,805
$36,639
$41,028
Page | 29 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
M. Funds Repo with the Fed (Millions)
10/31/2015
11/30/2015
12/31/2015
1/31/2016
2/29/2016
3/31/2016
4/30/2016
5/31/2016
6/30/2016
7/31/2016
8/31/2016
9/30/2016
10/31/2016
11/30/2016
12/31/2016
1/31/2017
2/28/2017
3/31/2017
4/30/2017
5/31/2017
6/30/2017
7/31/2017
8/31/2017
9/30/2017
10/31/2017
11/30/2017
12/31/2017
1/31/2018
2/28/2018
3/31/2018
4/30/2018
5/31/2018
6/30/2018
7/31/2018
8/31/2018
9/30/2018
10/31/2018
11/30/2018
12/31/2018
1/31/2019
2/28/2019
3/31/2019
4/30/2019
5/31/2019
6/30/2019
7/31/2019
8/31/2019
9/30/2019
10/31/2019
FedRepo
$188,401
$133,924
$423,991
$104,048
$79,448
$267,679
$60,033
$90,902
$242,784
$85,043
$149,893
$384,348
$198,088
$177,264
$403,420
$165,226
$194,041
$328,793
$174,266
$244,136
$365,114
$189,737
$204,126
$298,480
$164,445
$96,209
$288,134
$55,087
$30,873
$22,621
$13,720
$21,465
$88,810
$9,035
$380
$44,945
$4,805
$2,455
$39,648
$1,041
$3,405
$721
$5
$855
$43,607
$7,366
$12,089
$7,057
$2,850
Page | 30 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
N. Percent of Securities with Greater Than 179 Days to Maturity
Prime
(Pre-Oct
10/31/2015
11/30/2015
12/31/2015
1/31/2016
2/29/2016
3/31/2016
4/30/2016
5/31/2016
6/30/2016
7/31/2016
8/31/2016
9/30/2016
10/31/2016
11/30/2016
12/31/2016
1/31/2017
2/28/2017
3/31/2017
4/30/2017
5/31/2017
6/30/2017
7/31/2017
8/31/2017
9/30/2017
10/31/2017
11/30/2017
12/31/2017
1/31/2018
2/28/2018
3/31/2018
4/30/2018
5/31/2018
6/30/2018
7/31/2018
8/31/2018
9/30/2018
10/31/2018
11/30/2018
12/31/2018
1/31/2019
2/28/2019
3/31/2019
4/30/2019
5/31/2019
6/30/2019
7/31/2019
8/31/2019
9/30/2019
10/31/2019
8.6%
7.5%
5.2%
5.2%
4.7%
4.6%
4.5%
3.5%
3.6%
3.5%
3.0%
3.6%
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Prime
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
6.3%
5.7%
6.8%
7.2%
6.9%
9.2%
8.6%
9.0%
9.2%
10.2%
9.1%
9.1%
10.1%
10.3%
8.7%
8.3%
7.2%
6.9%
6.4%
6.5%
7.4%
8.2%
9.2%
9.0%
8.1%
8.4%
7.9%
9.0%
8.1%
7.3%
8.2%
9.0%
8.6%
9.5%
9.8%
9.5%
11.0%
Prime
Retail
.
.
.
.
.
.
.
.
.
.
.
.
6.2%
6.8%
6.9%
6.5%
7.1%
8.3%
7.7%
8.1%
8.3%
10.5%
11.5%
9.7%
9.1%
10.6%
8.3%
9.2%
10.1%
8.7%
7.9%
5.4%
7.8%
6.5%
6.0%
7.2%
8.0%
8.3%
6.2%
6.3%
7.7%
7.8%
7.6%
6.0%
6.8%
8.4%
9.9%
9.2%
11.3%
Muni
(Pre-Oct 2016)
8.5%
8.3%
7.3%
4.5%
3.6%
3.7%
3.4%
3.3%
4.9%
5.5%
6.4%
6.0%
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Muni
Institutional
.
.
.
.
.
.
.
.
.
.
.
.
3.2%
3.9%
3.4%
1.7%
1.9%
1.6%
1.5%
1.0%
1.2%
1.1%
1.5%
1.7%
1.8%
2.4%
3.1%
2.0%
2.0%
0.9%
0.6%
0.5%
0.4%
0.7%
0.6%
1.1%
2.0%
2.1%
1.9%
1.9%
1.9%
0.7%
0.8%
1.0%
0.9%
0.9%
1.5%
2.2%
3.4%
Muni
Retail
.
.
.
.
.
.
.
.
.
.
.
.
6.0%
6.5%
6.0%
3.9%
3.4%
3.3%
2.9%
2.6%
3.6%
4.1%
5.6%
5.5%
5.3%
6.1%
5.8%
4.4%
4.1%
2.9%
2.8%
3.0%
3.4%
4.0%
4.7%
6.6%
7.2%
7.1%
5.0%
5.0%
4.8%
2.9%
2.8%
3.1%
5.3%
6.1%
7.9%
8.7%
10.0%
Government
16.0%
15.0%
14.4%
15.1%
15.4%
17.3%
17.7%
17.9%
19.1%
19.6%
18.6%
17.2%
17.1%
17.5%
18.2%
19.0%
18.0%
17.9%
16.7%
16.3%
16.5%
15.7%
15.0%
13.8%
13.7%
15.6%
15.9%
16.6%
16.2%
15.8%
15.0%
14.1%
15.3%
15.7%
15.5%
14.3%
15.2%
15.2%
15.5%
15.5%
15.3%
16.0%
16.6%
17.8%
18.0%
18.0%
17.9%
17.7%
18.8%
Treasury
13.7%
11.5%
13.8%
16.6%
14.2%
14.6%
16.7%
14.3%
17.3%
17.8%
16.5%
17.4%
18.6%
16.5%
18.0%
18.9%
17.2%
17.7%
17.8%
14.7%
15.8%
15.9%
13.3%
15.1%
15.2%
13.1%
13.7%
15.3%
12.8%
14.1%
14.3%
13.9%
15.1%
15.7%
15.0%
14.6%
15.9%
14.4%
15.3%
16.9%
14.5%
15.2%
17.7%
14.7%
16.1%
17.9%
15.5%
15.8%
17.6%
Page | 31 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Appendix 2 – Key Definitions
Included by reference are all definitions included in the definitions section of Form
N-MFP and definitions set forth in Rule 2a-7 (17 CFR 270.2a-7). 1
Bank-related securities
For purposes of this report, includes certificates of deposit, time deposits,
sponsored ABCP, and repurchase agreements where the bank is the
counterparty.
Daily liquid assets
Means:
(i) Cash;
(ii) Direct obligations of the U.S. Government;
(iii) Securities that will mature (as determined without reference to the
exceptions in paragraph (i) of 29 CFR 270.2a-7 regarding interest rate
readjustments), or are subject to a demand feature that is exercisable and
payable, within one business day; or
(iv) Amounts receivable and due unconditionally within one business day on
pending sales of portfolio securities.
Form N-MFP
Used by Money Market Funds to file reports with the Commission pursuant to
rule 30b1-7 under the Act (17 CFR 270.30b1-7). The form is available at
https://www.sec.gov/about/forms/formn-mfp.pdf.
Fund Category
A category on Item A.10 of Form N-MFP. Form N-MFP requests filers to identify
each Fund from among the following categories: Treasury, Government
Agency, Exempt Government, Prime, Single State and Other Tax Exempt, and
further asks the filer to identify whether the Fund is an exempt Retail money
market fund.
Government money market
fund
A money market fund that invests 99.5 percent or more of its total assets in
cash, government securities, and/or repurchase agreements that are
collateralized fully.
Institutional money market
fund
A Fund reported on Form N-MFP that is not identified as a Retail money market
fund. Government and Treasury money market funds are not required to make
this distinction.
Money Market Fund (or Fund)
A registered open-end management investment company, or series thereof,
that is regulated as a money market fund pursuant to rule 2a–7 (17 CFR 270.2a–
7) under the Investment Company Act of 1940.
Form N-MFP is available at https://www.sec.gov/about/forms/formn-mfp.pdf. Rule 2-a7 (17 CFR 270.2a-7) is available at
https://www.ecfr.gov/cgi-bin/text-idx?SID=e937839363fe49d2f475d202e9a94320&mc=true&node=se17.4.270_12a_67&rgn=div8.
1
Page | 32 of 33
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019
Prime money market fund
Any Fund reported on Form N-MFP as a Prime money market fund. Prime
money market funds generally hold a variety of taxable short-term obligations
issued by corporations and banks, as well as repurchase agreements and assetbacked commercial paper. 2
Retail money market fund
A money market fund that has policies and procedures reasonably designed to
limit all beneficial owners of the fund to natural persons. Government and
Treasury money market funds are not required to make this distinction.
Tax exempt fund
A money market fund that holds itself out as distributing income exempt from
regular federal income tax.
Treasury money market fund
A government money market fund that limits its holdings to only U.S. Treasury
obligations or repurchase agreements collateralized by U.S. Treasury securities. 3
Weekly liquid assets
Means:
(i) Cash;
(ii) Direct obligations of the U.S. Government;
(iii) Government securities that are issued by a person controlled or supervised
by and acting as an instrumentality of the government of the United States
pursuant to authority granted by the Congress of the United States that: (A) Are
issued at a discount to the principal amount to be repaid at maturity without
provision for the payment of interest; and (B) Have a remaining maturity date of
60 days or less.
(iv) Securities that will mature (as determined without reference to the
exceptions in paragraph (i) of 29 CFR 270.2a-7 regarding interest rate
readjustments), or are subject to a demand feature that is exercisable and
payable, within five business days; or
(v) Amounts receivable and due unconditionally within five business days on
pending sales of portfolio securities.
See Money Market Fund Reform; Amendments to Form PF, Investment Company Act Release No. 31166 (July 23, 2014), available
at https://www.sec.gov/rules/final/2014/33-9616.pdf.
2
3
Id.
Page | 33 of 33
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.