# Public Information - Released March 28, 2024

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URL: https://www.frixlaw.com/law-library/documents/agency%3Asec%3Abd0e157a42812cfe

## Record

- **Collection:** Agency decision
- **Document type:** Agency decision

## Text

Public Information - Released March 28, 2024

Division of Investment Management
Analytics Office

Money Market Fund Statistics
Form N-MFP Data, period ending February 2024
Filings Received through March 12, 2024

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 and certain other filings (Form N-CEN,
Form N-CSR, or the fund’s prospectus). The presented information does not reflect any filings or
amended filings submitted after March 12, 2024. Staff works with the reported information 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 Isaac Kuznits
(kuznitsi@sec.gov) or Michelle Trillhaase (trillhaasem@sec.gov) or Susan Zhang
(zhangshu@sec.gov) in the Division of Investment Management’s Analytics Office with the
subject line “Money Market Fund Statistics.”

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table 1: Number of Money Market Funds Reporting
Fund totals do not include feeder funds. See Figure 1 for more details.

Category
Prime

Tax Exempt
Government &
Treasury
Total

Fund Type
Subtotal
Institutional Public
Institutional Nonpublic
Retail
Subtotal
Institutional
Retail
Subtotal
Government
Treasury
Total

2024-02
59
30
9
20
47
10
37
185
134
51
291

Change
↓1
↑1
↑1
↑1
↑1

2024-01
59
30
9
20
47
11
36
184
134
50
290

Table 2: Money Market Fund Net Assets ($ Billions)1
See Figure 2 for more details.

Category
Prime

Tax Exempt
Government &
Treasury
Total

Fund Type
Subtotal
Institutional Public
Institutional Nonpublic
Retail
Subtotal
Institutional
Retail
Subtotal
Government
Treasury
Total

2024-02
1,406.5
341.9
332.1
732.5
126.1
14.3
111.8
4,992.7
3,300.3
1,692.4
6,525.3

Change
↑33.5
↑10.6
↑4.2
↑18.7
↓0.7
↓2.3
↑1.6
↑33.1
↑14.9
↑18.2
↑65.9

2024-01
1,373.0
331.3
327.9
713.8
126.8
16.6
110.2
4,959.6
3,285.4
1,674.2
6,459.4

1

Some calculations in the change column in the tables in this report may not total as expected due to rounding. Terms
used in this report are defined in Appendix II, Key Definitions.

Page 1 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table 3: Asset-Weighted Seven-Day Gross Yield (Percent)
See Figure 3 for more details.

Category
Prime
Tax Exempt
Government & Treasury

Fund Type
Institutional
Retail
Institutional
Retail
Government
Treasury

2024-02
5.45
5.52
3.24
3.30
5.38
5.37

Change
↓0.04
↓0.03
↓1.06
↓0.94
↓0.01
↓0.01

2024-01
5.49
5.55
4.30
4.24
5.39
5.38

Table 4: Asset-Weighted Seven-Day Net Yield (Percent)
See Figure 4 for more details.

Category
Prime
Tax Exempt
Government & Treasury

Fund Type
Institutional
Retail
Institutional
Retail
Government
Treasury

2024-02
5.39
5.25
3.14
3.05
5.13
5.15

Change
↓0.02
↓0.03
↓1.05
↓0.95
↓0.02
↓0.01

2024-01
5.41
5.28
4.19
4.00
5.15
5.16

Table 5: Weighted Average Life (Days)
See Figure 5 for more details.

Category
Prime
Tax Exempt
Government & Treasury

Fund Type
Institutional
Retail
Institutional
Retail
Government
Treasury

2024-02
49.3
48.0
6.3
25.3
88.1
81.9

Change
↑0.9
↑3.5
↓0.1
↓0.6
↑3.7
↑1.5

2024-01
48.4
44.5
6.4
25.9
84.4
80.4

Page 2 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table 6: Weighted Average Maturity (Days)
See Figure 6 for more details.

Category
Prime
Tax Exempt
Government & Treasury

Fund Type
Institutional
Retail
Institutional
Retail
Government
Treasury

2024-02
31.9
33.2
6.3
24.5
38.6
45.8

Change
↑0.2
↑3.6
↓0.1
↓0.6
↑3.3
↑1.6

2024-01
31.7
29.6
6.4
25.1
35.3
44.2

Table 7: Ratio of Daily Liquid Assets to Total Assets
(Percent)
See Figure 7 for more details.

Category
Prime
Government & Treasury

Fund Type
Institutional
Retail
Government
Treasury

2024-02
56.6
41.6
68.0
94.9

Change
↑2.8
↓2.2
↓1.6
↓0.7

2024-01
53.8
43.8
69.6
95.6

Table 8: Ratio of Weekly Liquid Assets to Total Assets
(Percent)
See Figure 8 for more details.

Category
Prime
Tax Exempt
Government & Treasury

Fund Type
Institutional
Retail
Institutional
Retail
Government
Treasury

2024-02
70.0
60.4
95.2
77.8
80.4
99.3

Change
↑2.2
↑1.3
↑1.7
↑0.3
↓0.4
↑0.5

2024-01
67.8
59.1
93.5
77.5
80.8
98.8

Page 3 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table 9: Prime Holdings of Bank-Related Securities by
Country ($ Billions)
See Figure 9 for more details.

Country
US
Canada
Japan
France
UK
Netherlands
Aust/NZ
Germany
Switzerland

2024-02
168.6
159.7
133.4
105.8
54.3
47.6
40.3
35.3
7.6

Change
↑6.1
↓0.7
↓1.3
↓4.3
↓5.7
↑7.1
↑1.2
↓2.6
↓1.0

2024-01
162.5
160.4
134.7
110.1
60.0
40.5
39.1
37.9
8.6

Table 10: Prime Holdings of Bank-Related Securities by
Region ($ Billions)
See Figure 10 for more details.

Country
Americas
Eurozone
Asia-Pacific
Europe (non-Euro)

2024-02
328.3
210.7
199.2
139.5

Change
↑5.4
↑0.2
↓1.4
↓1.5

2024-01
322.9
210.5
200.6
141.0

Table 11: Prime Money Market Fund Aggregate Product
Exposures ($ Billions)
See Figure 11 for more details.

Asset Type
Gov. and Treas.
CDs and Time Deposits
Financial Co. CP
Non-Financial Co. CP and Other
Asset-Backed
Total

2024-02
594.7
381.9
198.7
144.1
77.4
1,396.8

Change
↑25.5
↑8.4
↓0.7
↓0.1
↑1.1
↑34.2

2024-01
569.2
373.5
199.4
144.2
76.3
1,362.6

Page 4 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table 12: Government & Treasury Funds Bank Repo
Counterparties by Country ($ Billions)
See Figure 12 for more details.

Month
US
Canada
France
UK
Germany
Japan
Other
Total

2024-02
421.0
204.4
183.5
144.1
21.2
140.9
43.2
1,158.3

Change
↓30.8
↑21.8
↓5.2
↑11.4
↓10.5
↓0.5
↓2.6
↓16.4

2024-01
451.8
182.6
188.7
132.7
31.7
141.4
45.8
1,174.7

Table 13: Money Market Fund Repurchase Agreements with
the Federal Reserve ($ Billions)
See Figure 13 for more details.

Total

2024-02
464.9

Change
↓118.5

2024-01
583.4

Table 14: Securities with more than 179 Days to Maturity
(Percent)
See Figure 14 for more details.

Category
Prime
Tax Exempt
Government & Treasury

Fund Type
Institutional
Retail
Institutional
Retail
Government
Treasury

2024-02
6.9
6.6
3.4
15.8
12.0

Change
↓0.1
↑0.2
↓0.1
↓0.2
↑0.8
↓0.2

2024-01
7.0
6.4
0.1
3.6
15.0
12.2

Page 5 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Figure 1: Number of Money Market Funds
See Table A1 for more details.

Number of Money Market Funds

250

Prime Inst.
Tax Exempt Inst.

Prime Retail
Tax Exempt Retail

Government
Treasury

200
150
100
50

20
2
20 0-04
2
20 0-06
2
20 0-08
2
20 0-10
2
20 0-12
2
20 1-02
2
20 1-04
2
20 1-06
2
20 1-08
2
20 1-10
2
20 1-12
2
20 2-02
2
20 2-04
2
20 2-06
2
20 2-08
2
20 2-10
2
20 2-12
2
20 3-02
2
20 3-04
2
20 3-06
2
20 3-08
2
20 3-10
2
20 3-12
24
-02

0

Page 6 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Figure 2: Money Market Fund Net Assets ($ Billions)
See Table A2 for more details.

3,500

Prime Inst.
Tax Exempt Inst.

Prime Retail
Tax Exempt Retail

Government
Treasury

2,500
2,000
1,500
1,000
500
0

20
2
20 0-04
2
20 0-06
2
20 0-08
2
20 0-10
2
20 0-12
2
20 1-02
2
20 1-04
2
20 1-06
2
20 1-08
2
20 1-10
2
20 1-12
2
20 2-02
2
20 2-04
2
20 2-06
2
20 2-08
2
20 2-10
2
20 2-12
2
20 3-02
2
20 3-04
2
20 3-06
2
20 3-08
2
20 3-10
2
20 3-12
24
-02

Net Assets ($Billions)

3,000

Page 7 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Figure 3: Weighted 7-Day Gross Yields
See Table A3 for more details.

Asset-Weighted Seven-Day Gross Yield (%)

6.0

Prime Inst.
Tax Exempt Inst.

Prime Retail
Tax Exempt Retail

Government
Treasury

5.0
4.0
3.0
2.0
1.0

20
2
20 0-04
2
20 0-06
2
20 0-08
2
20 0-10
2
20 0-12
2
20 1-02
2
20 1-04
2
20 1-06
2
20 1-08
2
20 1-10
2
20 1-12
2
20 2-02
2
20 2-04
2
20 2-06
2
20 2-08
2
20 2-10
2
20 2-12
2
20 3-02
2
20 3-04
2
20 3-06
2
20 3-08
2
20 3-10
2
20 3-12
24
-02

0.0

Page 8 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Figure 4: Weighted 7-Day Net Yields
See Table A4 for more details.

Asset-Weighted Seven-Day Net Yield (%)

6.0

Prime Inst.
Tax Exempt Inst.

Prime Retail
Tax Exempt Retail

Government
Treasury

5.0
4.0
3.0
2.0
1.0

20
2
20 0-04
2
20 0-06
2
20 0-08
2
20 0-10
2
20 0-12
2
20 1-02
2
20 1-04
2
20 1-06
2
20 1-08
2
20 1-10
2
20 1-12
2
20 2-02
2
20 2-04
2
20 2-06
2
20 2-08
2
20 2-10
2
20 2-12
2
20 3-02
2
20 3-04
2
20 3-06
2
20 3-08
2
20 3-10
2
20 3-12
24
-02

0.0

Page 9 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Figure 5: Weighted Average Life (Days)
See Table A5 for more details.

120

Prime Inst.
Tax Exempt Inst.

Prime Retail
Tax Exempt Retail

Government
Treasury

Weighted Average Life (Days)

100
80
60
40
20

20
2
20 0-04
2
20 0-06
2
20 0-08
2
20 0-10
2
20 0-12
2
20 1-02
2
20 1-04
2
20 1-06
2
20 1-08
2
20 1-10
2
20 1-12
2
20 2-02
2
20 2-04
2
20 2-06
2
20 2-08
2
20 2-10
2
20 2-12
2
20 3-02
2
20 3-04
2
20 3-06
2
20 3-08
2
20 3-10
2
20 3-12
24
-02

0

Page 10 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Figure 6: Weighted Average Maturity (Days)
See Table A6 for more details.

Weighted Average Maturity (Days)

60

Prime Inst.
Tax Exempt Inst.

Prime Retail
Tax Exempt Retail

Government
Treasury

50
40
30
20
10

20
2
20 0-04
2
20 0-06
2
20 0-08
2
20 0-10
2
20 0-12
2
20 1-02
2
20 1-04
2
20 1-06
2
20 1-08
2
20 1-10
2
20 1-12
2
20 2-02
2
20 2-04
2
20 2-06
2
20 2-08
2
20 2-10
2
20 2-12
2
20 3-02
2
20 3-04
2
20 3-06
2
20 3-08
2
20 3-10
2
20 3-12
24
-02

0

Page 11 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Figure 7: Daily Liquid Assets to Total Assets (Percent)
See Table A7 for more details.

100

Prime Institutional
Prime Retail

Government
Treasury

Ratio of Daily Liquid Assets
to Total Assets (%)

80
60
40
20

20
2
20 0-04
2
20 0-06
2
20 0-08
2
20 0-10
2
20 0-12
2
20 1-02
2
20 1-04
2
20 1-06
2
20 1-08
2
20 1-10
2
20 1-12
2
20 2-02
2
20 2-04
2
20 2-06
2
20 2-08
2
20 2-10
2
20 2-12
2
20 3-02
2
20 3-04
2
20 3-06
2
20 3-08
2
20 3-10
2
20 3-12
24
-02

0

Page 12 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Figure 8: Weekly Liquid Assets to Total Assets (Percent)
See Table A8 for more details.

Ratio of Weekly Liquid Assets
to Total Assets (%)

100

Prime Inst.
Tax Exempt Inst.

Prime Retail
Tax Exempt Retail

Government
Treasury

80
60
40
20

20
2
20 0-04
2
20 0-06
2
20 0-08
2
20 0-10
2
20 0-12
2
20 1-02
2
20 1-04
2
20 1-06
2
20 1-08
2
20 1-10
2
20 1-12
2
20 2-02
2
20 2-04
2
20 2-06
2
20 2-08
2
20 2-10
2
20 2-12
2
20 3-02
2
20 3-04
2
20 3-06
2
20 3-08
2
20 3-10
2
20 3-12
24
-02

0

Page 13 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Figure 9: Prime Holdings of Bank-Related Securities
by Country
See Table A9 for more details.

100

Percent of Total Prime Holdings in Bank-Related Securities (%) - Left
US
France
Canada
UK
Japan
Netherlands
Total Prime Holdings in Bank-Related Securities ($Billions) - Right
Total

Aust/NZ
Germany
Switzerland
800
700

80

600
500

60

400
40

300
200

20

100
0

20
2
20 0-04
2
20 0-06
2
20 0-08
2
20 0-10
2
20 0-12
2
20 1-02
2
20 1-04
2
20 1-06
2
20 1-08
2
20 1-10
2
20 1-12
2
20 2-02
2
20 2-04
2
20 2-06
2
20 2-08
2
20 2-10
2
20 2-12
2
20 3-02
2
20 3-04
2
20 3-06
2
20 3-08
2
20 3-10
2
20 3-12
24
-02

0

Page 14 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Figure 10: Prime Holdings of Bank-Related Securities
by Region
See Table A10 for more details.

100

Percent of Total Prime Holdings in Bank-Related Securities (%) - Left
Americas
Asia-Pacific
Eurozone
Europe (non-Euro)
Total Prime Holdings in Bank-Related Securities ($Billions) - Right
Total

900
800

80

700
600

60

500
400

40

300
200

20

100
0

20
2
20 0-04
2
20 0-06
2
20 0-08
2
20 0-10
2
20 0-12
2
20 1-02
2
20 1-04
2
20 1-06
2
20 1-08
2
20 1-10
2
20 1-12
2
20 2-02
2
20 2-04
2
20 2-06
2
20 2-08
2
20 2-10
2
20 2-12
2
20 3-02
2
20 3-04
2
20 3-06
2
20 3-08
2
20 3-10
2
20 3-12
24
-02

0

Page 15 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Figure 11: Prime Money Market Fund Aggregate Product
Exposures
See Table A11 for more details.

100

Percent of Total Aggregate Product Exposure (%) - Left
Gov. and Treas.
Non-Financial Co. CP and Other
CDs and Time Deposits
Asset-Backed
Financial Co. CP
Total Aggregate Product Exposure ($Trillions) - Right
Total
1,400

80

1,200
1,000

60

800

40

600
400

20

200
0

20
2
20 0-04
2
20 0-06
2
20 0-08
2
20 0-10
2
20 0-12
2
20 1-02
2
20 1-04
2
20 1-06
2
20 1-08
2
20 1-10
2
20 1-12
2
20 2-02
2
20 2-04
2
20 2-06
2
20 2-08
2
20 2-10
2
20 2-12
2
20 3-02
2
20 3-04
2
20 3-06
2
20 3-08
2
20 3-10
2
20 3-12
24
-02

0

Page 16 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Figure 12: Government & Treasury Funds Bank Repo
Counterparties by Country
See Table A12 for more details.

100

Percent of Total Aggregate Government and Treasury Bank Repo (%) - Left
US
UK
Japan
Canada
Germany
Other
France
Total Aggregate Government and Treasury Bank Repo ($Billions) - Right
Total

2,000
1,750

80

1,500
1,250

60

1,000
40

750
500

20

250
0

20
2
20 0-04
2
20 0-06
2
20 0-08
2
20 0-10
2
20 0-12
2
20 1-02
2
20 1-04
2
20 1-06
2
20 1-08
2
20 1-10
2
20 1-12
2
20 2-02
2
20 2-04
2
20 2-06
2
20 2-08
2
20 2-10
2
20 2-12
2
20 3-02
2
20 3-04
2
20 3-06
2
20 3-08
2
20 3-10
2
20 3-12
24
-02

0

Page 17 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Figure 13: Money Market Fund Repurchase Agreements
with the Federal Reserve ($ Billions)

2,500

See Table A13 for more details.

1,500
1,000
500
0

20
2
20 0-04
2
20 0-06
2
20 0-08
2
20 0-10
2
20 0-12
2
20 1-02
2
20 1-04
2
20 1-06
2
20 1-08
2
20 1-10
2
20 1-12
2
20 2-02
2
20 2-04
2
20 2-06
2
20 2-08
2
20 2-10
2
20 2-12
2
20 3-02
2
20 3-04
2
20 3-06
2
20 3-08
2
20 3-10
2
20 3-12
24
-02

Repurchase Agreements with
the Federal Reserve$

2,000

Page 18 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Figure 14: Securities with more than 179 Days to Maturity
(Percent)
See Table A14 for more details.

20

Prime Inst.
Tax Exempt Inst.

Prime Retail
Tax Exempt Retail

Government
Treasury

Securities with more than 179 Days
to Maturity (%)

18
15
12
10
8
5
2

20
2
20 0-04
2
20 0-06
2
20 0-08
2
20 0-10
2
20 0-12
2
20 1-02
2
20 1-04
2
20 1-06
2
20 1-08
2
20 1-10
2
20 1-12
2
20 2-02
2
20 2-04
2
20 2-06
2
20 2-08
2
20 2-10
2
20 2-12
2
20 3-02
2
20 3-04
2
20 3-06
2
20 3-08
2
20 3-10
2
20 3-12
24
-02

0

Page 19 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

I

Supporting Data
Table A1: Number of Money Market Funds Reporting
Fund totals do not include feeder funds.
Month
2020-02
2020-03
2020-04
2020-05
2020-06
2020-07
2020-08
2020-09
2020-10
2020-11
2020-12
2021-01
2021-02
2021-03
2021-04
2021-05
2021-06
2021-07
2021-08
2021-09
2021-10
2021-11
2021-12
2022-01
2022-02
2022-03
2022-04
2022-05
2022-06
2022-07
2022-08
2022-09
2022-10
2022-11
2022-12
2023-01
2023-02
2023-03
2023-04
2023-05
2023-06
2023-07
2023-08
2023-09
2023-10
2023-11
2023-12
2024-01
2024-02

Prime
Institutional
50
50
50
50
50
50
48
46
46
46
45
44
44
43
43
42
41
41
41
41
41
42
42
42
42
42
42
42
42
42
42
42
42
40
40
40
40
40
40
40
40
40
40
40
40
39
39
39
39

Prime
Retail
32
30
30
29
29
29
29
28
28
28
28
27
27
27
27
23
23
23
23
23
23
23
22
22
22
21
21
21
21
21
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20

Tax Exempt
Institutional
14
14
14
14
14
14
14
14
14
14
14
14
14
13
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
11
10

Tax Exempt
Retail
66
66
66
66
66
66
66
65
64
63
61
61
60
55
55
53
53
53
51
49
49
49
49
49
49
48
48
48
48
48
48
48
44
44
44
44
39
39
39
38
38
38
38
38
36
36
36
36
37

Government
148
146
145
145
144
144
144
144
144
143
143
142
142
141
142
140
140
139
139
139
139
139
138
138
138
137
137
136
135
134
133
133
133
133
132
132
132
133
133
133
133
133
133
132
132
133
134
134
134

Treasury
57
56
56
56
56
56
56
55
55
54
53
53
52
51
51
50
50
50
50
50
50
49
49
49
49
49
49
49
49
49
49
49
49
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
51

Total
367
362
361
360
359
359
357
352
351
348
344
341
339
330
330
320
319
318
316
314
314
314
312
312
312
309
309
308
307
306
304
304
300
299
298
298
293
294
294
293
293
293
293
292
290
290
291
290
291

Page 20 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table A2: Money Market Fund Net Assets ($ Billions)
Month
2020-02
2020-03
2020-04
2020-05
2020-06
2020-07
2020-08
2020-09
2020-10
2020-11
2020-12
2021-01
2021-02
2021-03
2021-04
2021-05
2021-06
2021-07
2021-08
2021-09
2021-10
2021-11
2021-12
2022-01
2022-02
2022-03
2022-04
2022-05
2022-06
2022-07
2022-08
2022-09
2022-10
2022-11
2022-12
2023-01
2023-02
2023-03
2023-04
2023-05
2023-06
2023-07
2023-08
2023-09
2023-10
2023-11
2023-12
2024-01
2024-02

Prime
Institutional
635.6
558.9
651.2
686.8
706.9
701.6
704.7
691.2
667.0
669.4
636.7
680.6
661.6
677.5
686.2
682.4
668.2
653.3
651.0
658.0
650.0
632.6
612.6
627.2
626.7
659.0
651.0
649.8
640.7
672.9
684.9
668.1
673.5
668.2
629.7
667.2
660.4
644.5
670.8
660.0
651.0
659.9
651.4
643.9
631.2
645.0
630.8
659.1
674.0

Prime
Retail
473.7
425.9
438.8
453.8
455.0
443.9
433.7
301.6
295.0
286.8
276.8
269.3
259.1
250.4
243.0
232.2
226.5
222.0
216.2
211.9
207.8
204.2
203.8
199.8
197.6
194.8
191.0
201.8
219.3
243.8
275.2
307.7
339.1
372.3
421.3
470.1
512.2
505.8
515.6
540.1
560.1
580.1
607.2
628.9
655.6
674.2
689.6
713.8
732.5

Tax Exempt
Institutional
15.7
15.3
17.5
19.6
19.2
18.5
20.0
17.1
17.8
17.6
18.2
20.8
18.9
18.6
18.0
18.1
20.7
19.8
20.3
18.2
18.3
17.5
15.8
16.2
16.2
15.0
14.8
16.3
16.7
15.2
18.3
15.1
16.4
15.8
15.0
15.3
15.3
14.7
13.4
14.4
15.5
15.5
15.5
15.5
18.1
16.1
16.5
16.6
14.3

Tax Exempt
Retail
125.3
116.7
123.6
120.6
117.4
110.7
108.6
104.0
101.8
98.8
95.6
94.0
91.3
89.6
86.8
83.4
81.6
80.7
80.4
79.4
78.2
77.7
78.4
77.4
76.6
79.7
85.4
91.5
94.8
88.9
92.9
91.7
102.2
100.2
104.0
103.9
104.5
103.8
99.7
104.2
106.8
103.6
107.1
107.9
112.6
114.1
114.8
110.2
111.8

Government
1,930.1
2,425.2
2,651.7
2,655.8
2,561.4
2,522.6
2,507.7
2,593.9
2,568.7
2,585.8
2,591.0
2,581.3
2,632.9
2,713.5
2,748.8
2,816.4
2,789.5
2,787.1
2,836.0
2,839.4
2,857.8
2,889.5
2,988.0
2,916.1
2,913.6
2,932.6
2,870.0
2,855.1
2,843.7
2,847.7
2,817.7
2,798.6
2,775.3
2,771.2
2,776.9
2,739.4
2,748.4
2,961.0
2,977.9
3,122.5
3,104.0
3,095.5
3,160.2
3,176.9
3,121.5
3,256.7
3,259.7
3,285.4
3,300.3

Treasury
853.5
1,196.7
1,317.4
1,294.9
1,244.0
1,240.3
1,205.9
1,155.0
1,138.8
1,149.4
1,163.4
1,171.1
1,183.8
1,244.1
1,257.2
1,279.9
1,239.0
1,222.7
1,206.6
1,223.6
1,226.2
1,270.5
1,316.4
1,253.1
1,229.8
1,219.5
1,225.0
1,203.2
1,229.0
1,233.2
1,216.1
1,214.4
1,224.9
1,252.1
1,287.7
1,292.0
1,299.1
1,474.4
1,476.8
1,469.6
1,493.0
1,504.6
1,532.1
1,580.0
1,573.0
1,631.5
1,660.2
1,674.2
1,692.4

Total
4,033.9
4,738.7
5,200.2
5,231.5
5,103.9
5,037.6
4,980.6
4,862.8
4,789.1
4,807.8
4,781.7
4,817.1
4,847.6
4,993.7
5,040.0
5,112.4
5,025.5
4,985.6
5,010.5
5,030.5
5,038.3
5,092.0
5,215.0
5,089.8
5,060.5
5,100.6
5,037.2
5,017.7
5,044.2
5,101.7
5,105.1
5,095.6
5,131.4
5,179.8
5,234.6
5,287.9
5,339.9
5,704.2
5,754.2
5,910.8
5,930.4
5,959.2
6,073.5
6,153.1
6,112.0
6,337.6
6,371.6
6,459.3
6,525.3

Page 21 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table A3: Asset-Weighted Seven-Day Gross Yield (Percent)
Month
2020-02
2020-03
2020-04
2020-05
2020-06
2020-07
2020-08
2020-09
2020-10
2020-11
2020-12
2021-01
2021-02
2021-03
2021-04
2021-05
2021-06
2021-07
2021-08
2021-09
2021-10
2021-11
2021-12
2022-01
2022-02
2022-03
2022-04
2022-05
2022-06
2022-07
2022-08
2022-09
2022-10
2022-11
2022-12
2023-01
2023-02
2023-03
2023-04
2023-05
2023-06
2023-07
2023-08
2023-09
2023-10
2023-11
2023-12
2024-01
2024-02

Prime
Institutional
1.73
0.94
0.59
0.40
0.33
0.27
0.22
0.20
0.17
0.16
0.16
0.15
0.13
0.12
0.10
0.09
0.09
0.10
0.10
0.09
0.09
0.10
0.12
0.12
0.14
0.36
0.44
0.88
1.49
1.86
2.34
2.97
3.20
3.97
4.42
4.50
4.72
4.93
4.96
5.18
5.22
5.35
5.46
5.48
5.50
5.50
5.50
5.49
5.45

Prime
Retail
1.79
1.15
0.85
0.53
0.42
0.31
0.25
0.24
0.21
0.20
0.21
0.20
0.18
0.17
0.16
0.15
0.15
0.14
0.14
0.14
0.15
0.15
0.16
0.18
0.20
0.42
0.50
0.96
1.63
2.08
2.52
3.19
3.34
4.11
4.58
4.60
4.79
5.01
5.02
5.25
5.28
5.43
5.53
5.55
5.56
5.57
5.59
5.55
5.52

Tax Exempt
Institutional
1.17
3.36
0.30
0.21
0.21
0.23
0.12
0.17
0.16
0.15
0.14
0.07
0.07
0.09
0.09
0.07
0.06
0.05
0.04
0.06
0.07
0.06
0.11
0.09
0.17
0.46
0.44
0.76
0.88
1.25
1.46
2.21
2.05
1.57
3.57
1.55
3.15
4.05
3.55
3.54
4.06
3.99
4.32
4.27
4.05
3.41
4.14
4.30
3.24

Tax Exempt
Retail
1.20
3.35
0.51
0.42
0.33
0.33
0.22
0.23
0.22
0.20
0.18
0.14
0.12
0.13
0.13
0.12
0.09
0.08
0.07
0.08
0.10
0.10
0.14
0.10
0.23
0.50
0.49
0.82
0.98
1.15
1.64
2.15
2.23
1.90
3.55
1.84
3.31
4.00
3.45
3.42
3.91
3.72
4.14
4.00
3.93
3.45
4.04
4.24
3.30

Government
1.64
0.55
0.39
0.29
0.26
0.23
0.19
0.17
0.16
0.14
0.14
0.12
0.10
0.08
0.07
0.05
0.09
0.07
0.07
0.07
0.07
0.07
0.07
0.09
0.11
0.33
0.40
0.83
1.46
1.88
2.23
2.91
3.07
3.77
4.27
4.36
4.61
4.87
4.90
5.15
5.16
5.32
5.39
5.40
5.42
5.42
5.42
5.39
5.38

Treasury
1.63
0.57
0.37
0.28
0.26
0.24
0.20
0.17
0.16
0.14
0.13
0.12
0.09
0.07
0.06
0.04
0.06
0.06
0.06
0.06
0.06
0.06
0.07
0.09
0.14
0.34
0.46
0.81
1.34
1.82
2.20
2.81
3.15
3.78
4.18
4.38
4.61
4.74
4.74
5.09
5.17
5.31
5.39
5.40
5.43
5.43
5.40
5.38
5.37

Page 22 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table A4: Asset-Weighted Seven-Day Net Yield (Percent)
Month
2020-02
2020-03
2020-04
2020-05
2020-06
2020-07
2020-08
2020-09
2020-10
2020-11
2020-12
2021-01
2021-02
2021-03
2021-04
2021-05
2021-06
2021-07
2021-08
2021-09
2021-10
2021-11
2021-12
2022-01
2022-02
2022-03
2022-04
2022-05
2022-06
2022-07
2022-08
2022-09
2022-10
2022-11
2022-12
2023-01
2023-02
2023-03
2023-04
2023-05
2023-06
2023-07
2023-08
2023-09
2023-10
2023-11
2023-12
2024-01
2024-02

Prime
Institutional
1.65
0.87
0.53
0.33
0.26
0.19
0.15
0.13
0.10
0.10
0.11
0.10
0.08
0.07
0.06
0.05
0.05
0.05
0.06
0.06
0.06
0.06
0.08
0.08
0.10
0.31
0.40
0.83
1.44
1.78
2.29
2.92
3.15
3.91
4.35
4.44
4.65
4.86
4.89
5.12
5.16
5.29
5.40
5.41
5.43
5.44
5.43
5.41
5.39

Prime
Retail
1.54
0.89
0.58
0.28
0.19
0.09
0.06
0.04
0.03
0.03
0.03
0.03
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.03
0.14
0.21
0.65
1.33
1.72
2.23
2.91
3.07
3.83
4.31
4.33
4.53
4.74
4.75
4.99
5.01
5.17
5.26
5.28
5.30
5.30
5.32
5.28
5.25

Tax Exempt
Institutional
1.05
3.21
0.16
0.08
0.09
0.11
0.04
0.07
0.07
0.07
0.06
0.02
0.02
0.04
0.03
0.03
0.02
0.02
0.02
0.02
0.03
0.03
0.05
0.04
0.08
0.37
0.34
0.66
0.78
1.08
1.36
2.11
1.94
1.47
3.46
1.44
3.04
3.93
3.43
3.42
3.94
3.88
4.21
4.15
3.93
3.31
4.03
4.19
3.14

Tax Exempt
Retail
0.93
3.07
0.25
0.16
0.10
0.10
0.03
0.04
0.03
0.02
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.03
0.24
0.24
0.56
0.73
0.84
1.38
1.90
1.98
1.66
3.30
1.59
3.06
3.75
3.20
3.17
3.67
3.47
3.89
3.76
3.69
3.21
3.80
4.00
3.05

Government
1.38
0.32
0.17
0.09
0.07
0.06
0.03
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.14
0.19
0.59
1.22
1.61
2.00
2.68
2.83
3.53
4.03
4.10
4.34
4.63
4.66
4.92
4.93
5.08
5.15
5.16
5.17
5.18
5.18
5.15
5.13

Treasury
1.40
0.35
0.17
0.09
0.07
0.06
0.03
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.14
0.25
0.59
1.12
1.59
1.99
2.59
2.94
3.56
3.97
4.15
4.39
4.53
4.52
4.87
4.95
5.09
5.17
5.19
5.21
5.21
5.20
5.16
5.15

Page 23 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table A5: Weighted Average Life (Days)
Month
2020-02
2020-03
2020-04
2020-05
2020-06
2020-07
2020-08
2020-09
2020-10
2020-11
2020-12
2021-01
2021-02
2021-03
2021-04
2021-05
2021-06
2021-07
2021-08
2021-09
2021-10
2021-11
2021-12
2022-01
2022-02
2022-03
2022-04
2022-05
2022-06
2022-07
2022-08
2022-09
2022-10
2022-11
2022-12
2023-01
2023-02
2023-03
2023-04
2023-05
2023-06
2023-07
2023-08
2023-09
2023-10
2023-11
2023-12
2024-01
2024-02

Prime
Institutional
64.4
57.9
58.0
57.2
57.6
62.8
59.2
58.5
60.4
56.6
57.5
62.4
62.7
58.2
58.2
57.2
54.0
54.2
52.2
50.3
54.0
51.7
54.0
48.4
44.6
44.8
43.7
43.0
44.0
43.5
39.0
37.9
35.0
40.5
38.9
37.8
38.2
39.9
44.1
44.9
46.9
44.2
43.8
43.5
43.9
48.2
49.0
48.4
49.3

Prime
Retail
63.0
59.8
60.6
60.0
62.0
67.8
66.4
56.8
59.3
53.2
51.5
48.8
51.5
51.3
48.6
50.1
48.2
48.9
52.8
52.6
60.0
56.0
51.6
46.5
45.6
42.6
43.7
48.1
48.3
48.6
48.8
51.0
48.8
47.1
41.3
39.4
39.0
38.3
37.6
38.3
39.7
38.9
47.0
46.4
47.2
50.9
47.3
44.5
48.0

Tax Exempt
Institutional
15.7
14.2
13.4
15.9
17.7
16.8
15.5
18.4
18.2
16.6
16.6
14.9
15.5
14.3
12.8
13.7
15.8
17.2
17.0
16.6
15.3
13.4
13.9
13.9
11.7
11.9
9.8
7.6
9.2
9.6
8.8
10.0
8.6
9.2
9.5
10.4
9.5
10.0
9.5
10.3
10.4
9.5
8.4
9.3
7.4
6.9
7.3
6.4
6.3

Tax Exempt
Retail
33.8
34.2
31.2
30.6
32.9
33.4
35.6
34.4
32.3
29.0
27.6
26.9
26.4
26.2
22.8
22.6
25.6
25.5
25.9
26.7
27.0
25.0
24.2
21.4
20.2
19.8
17.4
16.1
16.7
16.9
17.1
17.9
15.9
16.8
16.2
15.8
15.6
16.3
15.3
16.8
21.2
20.8
22.6
25.5
26.4
26.1
25.4
25.9
25.3

Government
91.9
98.3
100.1
102.3
102.9
101.7
99.7
100.9
101.1
99.0
102.8
99.6
96.4
92.1
88.6
82.9
82.4
82.3
79.7
76.8
80.1
80.6
78.3
76.7
73.6
74.7
72.4
71.2
68.7
68.3
63.8
63.0
61.4
61.5
59.6
60.5
60.4
65.8
64.0
66.0
67.5
67.6
68.1
71.4
76.9
80.6
83.1
84.4
88.1

Treasury
97.4
92.4
96.4
98.0
97.1
96.9
97.1
101.2
97.8
97.8
101.2
97.7
99.8
95.4
91.1
85.0
89.1
90.7
90.9
89.0
87.7
86.7
83.8
78.1
76.8
80.7
75.7
79.1
74.6
70.9
66.6
63.6
59.6
59.8
59.1
56.7
53.5
47.9
48.5
56.2
56.6
55.2
58.1
59.7
67.0
73.2
77.4
80.4
81.9

Page 24 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table A6: Weighted Average Maturity (Days)
Month
2020-02
2020-03
2020-04
2020-05
2020-06
2020-07
2020-08
2020-09
2020-10
2020-11
2020-12
2021-01
2021-02
2021-03
2021-04
2021-05
2021-06
2021-07
2021-08
2021-09
2021-10
2021-11
2021-12
2022-01
2022-02
2022-03
2022-04
2022-05
2022-06
2022-07
2022-08
2022-09
2022-10
2022-11
2022-12
2023-01
2023-02
2023-03
2023-04
2023-05
2023-06
2023-07
2023-08
2023-09
2023-10
2023-11
2023-12
2024-01
2024-02

Prime
Institutional
31.1
31.3
40.8
43.2
40.4
42.6
40.0
40.1
41.7
39.4
40.6
44.7
43.4
39.9
41.2
40.2
36.8
37.4
34.4
33.6
37.8
35.8
36.1
29.8
23.4
21.8
20.6
20.3
20.5
21.4
16.8
14.8
11.8
17.2
17.3
16.4
17.8
17.7
19.8
20.3
23.0
20.9
22.1
25.0
26.3
32.9
33.4
31.7
31.9

Prime
Retail
33.3
34.6
42.6
47.6
46.1
48.3
47.7
49.2
51.1
45.5
44.3
42.5
44.7
44.4
41.1
39.6
37.8
40.1
43.3
42.5
50.6
47.6
43.7
36.4
27.3
22.7
19.2
15.2
15.4
17.8
14.1
12.6
9.3
12.7
14.5
15.4
17.8
17.1
16.3
17.3
21.6
21.1
25.3
27.4
30.9
35.6
33.9
29.6
33.2

Tax Exempt
Institutional
15.1
13.9
12.9
15.4
17.2
16.0
15.0
17.6
17.7
15.8
15.7
14.3
15.0
13.5
12.4
13.6
15.4
17.0
16.6
16.2
15.1
13.0
13.8
13.5
11.2
11.8
9.7
7.5
9.0
9.6
8.5
10.0
8.3
8.6
9.2
10.3
9.3
9.9
9.4
10.3
9.9
9.0
8.4
9.1
7.3
6.9
7.2
6.4
6.3

Tax Exempt
Retail
31.5
31.8
28.9
28.4
30.6
31.2
33.8
32.9
30.9
27.5
26.2
25.4
25.6
25.1
21.9
21.7
24.3
24.9
25.0
26.1
26.3
24.1
23.7
20.4
19.1
19.1
16.5
15.3
16.2
16.4
16.1
17.3
15.1
16.0
15.9
15.3
14.6
15.6
14.7
15.8
20.3
19.6
21.8
24.8
25.1
25.0
24.5
25.1
24.5

Government
29.4
34.4
36.0
40.3
41.3
41.2
39.9
43.0
44.4
43.5
48.1
47.4
45.4
43.2
40.7
35.7
35.3
35.3
33.6
30.5
34.6
34.6
33.6
30.3
26.6
27.0
26.0
25.7
24.6
22.8
18.3
15.9
12.6
12.0
10.9
9.0
10.5
15.3
18.4
20.6
24.4
25.0
24.8
27.3
28.9
33.1
36.5
35.3
38.6

Treasury
38.2
41.6
46.3
47.1
45.8
46.0
46.7
48.4
46.9
48.0
50.5
48.3
48.8
46.5
43.7
39.2
40.9
41.5
41.1
39.8
39.0
41.0
40.0
33.4
33.4
37.3
35.1
35.7
33.7
31.3
26.7
25.9
23.0
22.3
22.9
20.4
18.8
17.2
14.6
21.8
23.1
21.9
23.4
25.0
31.0
36.7
41.6
44.2
45.8

Page 25 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table A7: Ratio of Daily Liquid Assets to Total Assets
(Percent)
Month
2020-02
2020-03
2020-04
2020-05
2020-06
2020-07
2020-08
2020-09
2020-10
2020-11
2020-12
2021-01
2021-02
2021-03
2021-04
2021-05
2021-06
2021-07
2021-08
2021-09
2021-10
2021-11
2021-12
2022-01
2022-02
2022-03
2022-04
2022-05
2022-06
2022-07
2022-08
2022-09
2022-10
2022-11
2022-12
2023-01
2023-02
2023-03
2023-04
2023-05
2023-06
2023-07
2023-08
2023-09
2023-10
2023-11
2023-12
2024-01
2024-02

Prime
Institutional
37.3
42.5
47.6
50.0
50.3
49.6
51.2
53.1
53.6
55.1
54.8
51.6
51.2
51.6
50.8
52.2
53.8
51.4
53.5
54.2
50.6
50.4
52.7
53.5
53.9
52.7
52.1
51.5
52.3
51.1
52.7
52.4
54.0
49.7
52.4
53.0
53.8
54.9
51.7
52.2
51.4
52.4
53.1
50.5
51.0
51.0
53.3
53.8
56.6

Prime
Retail
25.7
33.9
37.9
42.1
43.6
41.7
46.3
42.0
37.2
39.3
36.0
34.1
31.4
33.7
30.9
35.3
41.4
36.4
34.1
35.3
25.7
28.4
32.5
28.9
29.1
35.0
33.0
36.7
39.8
38.6
42.1
41.8
39.8
40.4
47.7
45.8
47.8
50.5
46.2
48.4
45.2
42.8
43.3
42.5
42.2
40.7
41.8
43.8
41.6

Government
46.8
46.9
54.0
58.3
61.9
61.8
63.4
64.5
63.4
65.9
65.6
65.5
65.8
69.2
70.1
71.9
73.8
72.8
73.9
75.3
75.8
77.4
78.7
80.0
80.1
80.4
80.1
80.0
81.6
80.8
81.1
80.3
78.1
76.1
76.2
74.5
74.4
68.8
68.8
68.2
71.0
71.4
71.2
69.8
69.8
69.1
69.3
69.6
68.0

Treasury
89.6
94.3
96.0
95.6
97.1
96.5
96.4
95.9
94.8
95.3
95.3
94.2
94.0
95.4
95.5
96.4
96.6
95.3
96.2
96.9
96.4
97.0
97.0
97.2
97.9
97.7
97.2
98.5
98.6
97.9
98.6
99.1
98.6
98.8
98.7
98.8
98.8
98.9
97.7
95.9
97.8
97.2
97.4
97.2
96.9
96.0
95.5
95.6
94.9

Page 26 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table A8: Ratio of Weekly Liquid Assets to Total Assets
(Percent)
Month
2020-02
2020-03
2020-04
2020-05
2020-06
2020-07
2020-08
2020-09
2020-10
2020-11
2020-12
2021-01
2021-02
2021-03
2021-04
2021-05
2021-06
2021-07
2021-08
2021-09
2021-10
2021-11
2021-12
2022-01
2022-02
2022-03
2022-04
2022-05
2022-06
2022-07
2022-08
2022-09
2022-10
2022-11
2022-12
2023-01
2023-02
2023-03
2023-04
2023-05
2023-06
2023-07
2023-08
2023-09
2023-10
2023-11
2023-12
2024-01
2024-02

Prime
Institutional
51.3
55.2
60.0
62.2
62.6
61.0
62.8
65.6
65.6
67.0
67.3
65.0
63.3
62.6
63.2
64.7
64.5
63.8
63.0
63.2
63.6
61.4
62.9
65.2
66.6
66.6
69.5
65.1
65.9
66.1
66.0
68.2
70.3
64.0
66.3
69.4
68.2
67.9
67.2
65.4
67.5
67.2
66.6
66.7
67.1
65.1
65.1
67.8
70.0

Prime
Retail
41.1
45.3
48.5
50.5
51.6
51.4
58.6
51.0
49.2
50.4
45.5
46.2
46.6
44.0
44.2
47.2
54.0
50.8
48.6
48.5
43.3
43.6
45.3
44.2
44.7
50.1
50.8
49.3
52.3
53.8
53.3
52.6
53.8
53.0
56.8
59.9
60.2
61.5
63.7
63.3
61.4
62.2
60.9
60.1
59.7
58.4
57.2
59.1
60.4

Tax Exempt
Institutional
83.5
85.5
87.2
87.5
86.5
87.4
87.0
88.1
88.4
90.3
89.4
88.2
85.8
83.5
87.1
86.9
88.1
85.9
87.0
82.6
88.0
88.9
87.4
82.7
88.3
86.0
88.1
89.8
92.2
86.3
93.2
91.3
92.2
92.4
91.6
88.8
91.6
77.5
89.2
90.6
91.2
91.5
92.6
93.9
94.2
94.8
95.5
93.5
95.2

Tax Exempt
Retail
70.7
70.8
70.3
71.0
73.2
73.0
74.6
74.7
75.0
76.6
77.1
76.3
76.3
69.0
78.2
77.6
79.4
79.5
80.4
80.0
78.9
80.4
80.0
78.9
80.1
80.7
80.7
81.8
84.1
81.1
83.8
82.6
84.3
83.7
83.5
82.8
84.4
56.4
81.8
82.6
81.7
81.6
81.6
80.8
79.7
79.8
78.0
77.5
77.8

Government
70.3
68.0
71.5
73.8
76.1
77.8
78.6
79.1
77.8
79.1
79.7
80.0
80.6
83.5
84.0
84.8
85.4
84.2
86.9
87.5
86.5
88.7
89.8
89.8
89.9
90.6
89.9
89.8
90.0
88.7
89.6
88.6
87.8
86.1
86.6
85.1
85.5
79.4
81.2
81.0
82.0
83.8
83.0
82.2
81.4
80.8
81.9
80.8
80.4

Treasury
97.6
99.0
99.4
98.8
99.5
99.5
99.4
99.3
98.3
99.0
99.3
98.1
98.4
99.2
99.4
99.4
99.4
97.6
99.2
99.5
98.7
99.4
99.4
99.0
99.5
99.4
98.6
99.6
99.6
98.9
99.6
99.7
99.2
99.4
99.3
99.5
99.3
99.6
98.5
99.0
99.2
99.0
99.4
99.0
99.4
99.0
98.7
98.8
99.3

Page 27 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table A9: Prime Holdings of Bank-Related Securities by
Country ($ Billions)
Month
2020-02
2020-03
2020-04
2020-05
2020-06
2020-07
2020-08
2020-09
2020-10
2020-11
2020-12
2021-01
2021-02
2021-03
2021-04
2021-05
2021-06
2021-07
2021-08
2021-09
2021-10
2021-11
2021-12
2022-01
2022-02
2022-03
2022-04
2022-05
2022-06
2022-07
2022-08
2022-09
2022-10
2022-11
2022-12
2023-01
2023-02
2023-03
2023-04
2023-05
2023-06
2023-07
2023-08
2023-09
2023-10
2023-11
2023-12
2024-01
2024-02

US
113.1
80.0
87.7
78.9
79.7
72.9
72.0
71.9
63.9
71.3
81.1
70.5
67.2
63.6
55.1
54.9
55.0
50.9
48.1
45.1
47.1
49.2
45.9
49.6
41.7
43.2
40.7
46.7
50.3
55.6
55.0
64.7
67.5
70.9
81.5
89.0
92.6
98.9
97.7
109.5
117.0
123.2
137.3
146.3
145.7
153.6
159.9
162.5
168.6

Canada
164.1
139.3
132.5
135.6
140.8
121.9
119.0
102.0
93.7
107.3
130.2
117.2
112.4
109.9
101.5
95.4
97.7
91.7
92.4
96.9
94.0
106.7
113.4
96.4
92.9
94.4
83.7
83.7
84.8
85.6
89.2
93.1
97.8
107.8
123.3
115.7
114.0
110.6
113.9
115.7
130.4
124.0
131.0
136.5
136.6
156.3
183.4
160.5
159.7

Japan
107.3
87.0
97.2
89.7
95.8
98.7
94.9
90.8
86.3
81.8
82.0
71.3
76.2
69.2
70.7
73.8
65.5
71.2
66.7
66.7
71.6
69.3
71.3
64.6
60.1
61.1
59.3
63.3
71.8
71.4
79.2
81.4
93.2
100.1
91.1
98.8
104.2
87.5
94.3
91.1
95.6
105.5
117.2
119.3
126.4
131.1
126.5
134.7
133.4

France
101.1
71.1
88.4
93.8
84.8
87.5
86.0
75.6
82.3
87.5
67.0
85.8
84.1
77.8
81.9
88.4
66.0
72.1
73.6
65.4
80.6
71.7
49.6
70.0
68.0
56.2
64.2
63.1
51.0
61.0
59.2
49.1
59.1
52.2
52.3
71.9
72.4
63.2
81.6
91.9
82.1
95.2
94.0
85.5
98.9
100.8
88.8
110.1
105.8

UK
50.1
40.6
45.6
45.6
45.3
43.3
42.4
43.1
35.2
30.0
26.1
30.6
40.0
31.4
37.3
35.9
29.9
29.8
28.8
28.1
27.0
25.8
19.4
28.4
29.3
30.6
31.0
30.1
29.6
24.7
30.0
25.7
28.8
34.4
27.7
39.8
35.2
33.1
34.6
40.4
41.4
42.4
41.4
38.4
43.0
44.5
32.9
59.9
54.3

Netherlands
44.6
36.4
37.2
37.0
30.2
33.9
31.0
37.2
30.0
32.0
12.9
37.8
38.0
40.2
35.2
31.5
29.5
30.3
30.9
36.2
33.5
28.6
12.9
25.9
30.3
34.4
33.1
35.5
22.5
32.5
30.4
34.5
37.6
38.2
15.3
47.5
41.0
40.7
41.6
45.3
41.6
47.1
42.9
42.8
41.3
42.0
20.3
40.5
47.6

Aust/NZ
46.5
41.2
32.8
31.1
26.6
22.6
21.7
19.6
18.6
22.4
25.8
24.2
26.4
28.9
26.1
24.7
24.6
24.3
25.3
26.0
26.9
29.9
32.6
27.7
27.8
29.4
30.5
31.5
30.9
28.4
28.5
29.8
34.1
35.1
36.1
36.1
35.8
34.0
26.3
23.0
25.6
25.8
23.5
26.2
31.8
36.8
43.0
39.1
40.3

Germany
56.1
43.7
40.3
41.5
35.8
45.4
45.4
34.4
38.9
36.7
23.8
42.0
44.7
36.0
39.0
37.9
28.4
38.0
38.3
32.4
36.4
34.0
15.1
33.8
35.8
27.6
31.4
31.4
19.1
22.2
26.0
27.7
25.1
28.4
13.7
37.0
38.7
21.7
36.0
40.5
25.8
36.6
36.9
36.7
37.5
33.6
19.3
37.9
35.3

Switzerland
26.6
20.0
20.1
18.9
18.9
17.3
18.3
18.5
21.8
18.2
17.2
16.7
16.5
17.3
16.3
14.4
11.2
10.8
9.1
7.6
8.0
10.0
12.1
11.5
11.6
11.9
12.3
10.8
9.3
8.0
7.3
7.2
7.4
8.6
8.3
7.4
5.7
5.8
5.6
5.4
7.1
8.1
9.5
9.3
10.3
10.8
10.1
8.6
7.6

Page 28 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table A10: Prime Holdings of Bank-Related Securities by
Region ($ Billions)
Month
2020-02
2020-03
2020-04
2020-05
2020-06
2020-07
2020-08
2020-09
2020-10
2020-11
2020-12
2021-01
2021-02
2021-03
2021-04
2021-05
2021-06
2021-07
2021-08
2021-09
2021-10
2021-11
2021-12
2022-01
2022-02
2022-03
2022-04
2022-05
2022-06
2022-07
2022-08
2022-09
2022-10
2022-11
2022-12
2023-01
2023-02
2023-03
2023-04
2023-05
2023-06
2023-07
2023-08
2023-09
2023-10
2023-11
2023-12
2024-01
2024-02

Americas
277.7
219.6
220.8
215.0
221.2
195.4
191.7
174.5
158.1
179.0
211.7
188.1
179.9
173.8
156.7
150.4
152.8
142.7
140.5
142.0
141.2
156.0
159.3
146.0
134.6
137.6
124.4
130.4
135.1
141.2
144.2
157.9
165.3
178.7
204.8
204.7
206.5
209.5
211.6
225.2
247.4
247.3
268.3
282.8
282.3
309.8
343.3
322.9
328.3

Eurozone
218.9
162.1
179.4
182.7
156.9
175.1
171.0
153.1
159.5
165.1
108.3
178.4
181.4
166.3
174.8
176.6
130.4
158.3
162.1
143.0
168.9
151.2
82.2
147.5
153.0
125.7
142.4
143.6
103.3
130.5
133.0
121.5
138.7
135.4
90.2
177.8
170.6
135.7
177.6
200.4
162.9
201.8
195.4
177.5
202.1
200.3
142.5
210.5
210.7

Asia-Pacific
174.1
144.1
144.0
137.2
141.6
138.9
130.8
123.2
117.2
115.7
119.1
108.4
114.2
113.6
110.8
113.5
104.2
109.4
105.1
106.3
116.6
117.4
121.0
111.6
103.5
105.6
104.1
110.9
121.0
119.4
129.0
130.4
149.0
154.2
144.0
154.0
164.8
142.8
142.1
140.6
140.0
154.1
164.5
169.3
179.7
192.6
189.4
200.6
199.2

Europe (non-Euro)
133.6
108.2
111.9
104.8
105.2
99.5
105.1
98.4
90.7
85.1
66.7
107.1
115.9
98.8
112.2
106.6
76.1
88.6
87.8
74.5
78.6
80.2
51.0
94.0
97.8
72.0
93.9
86.9
73.6
78.5
85.5
73.3
84.2
98.8
67.9
102.8
98.6
80.0
91.5
101.0
98.6
106.6
110.3
96.2
111.2
112.1
78.0
141.0
139.5

Page 29 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table A11: Prime Money Market Fund Aggregate Product
Exposures ($ Billions)
Month
2020-02
2020-03
2020-04
2020-05
2020-06
2020-07
2020-08
2020-09
2020-10
2020-11
2020-12
2021-01
2021-02
2021-03
2021-04
2021-05
2021-06
2021-07
2021-08
2021-09
2021-10
2021-11
2021-12
2022-01
2022-02
2022-03
2022-04
2022-05
2022-06
2022-07
2022-08
2022-09
2022-10
2022-11
2022-12
2023-01
2023-02
2023-03
2023-04
2023-05
2023-06
2023-07
2023-08
2023-09
2023-10
2023-11
2023-12
2024-01
2024-02

Gov. and Treas.
308.4
303.6
420.0
489.3
534.0
513.4
542.5
455.2
419.2
410.9
418.8
347.3
310.7
346.1
329.0
322.5
397.0
328.1
329.0
355.8
298.3
272.7
362.0
282.9
273.5
366.1
317.1
333.6
384.7
402.0
414.9
447.3
434.8
443.0
527.9
479.8
513.7
584.8
557.4
544.0
579.8
545.0
545.2
564.4
526.4
550.5
618.2
569.2
594.7

CDs and Time
Deposits
360.8
281.8
290.0
275.5
252.7
257.3
249.0
212.1
215.9
220.7
164.9
238.7
246.2
216.6
233.1
230.9
176.3
217.8
210.2
179.9
223.0
220.9
143.9
226.9
229.4
176.2
211.6
210.7
188.6
210.7
221.9
211.3
247.6
251.8
191.4
283.2
291.5
229.0
281.3
297.3
269.7
306.5
326.6
303.7
347.0
351.5
294.5
373.5
381.9

Financial Co. CP
209.9
190.3
180.4
171.6
174.0
163.8
157.8
143.4
141.2
150.0
153.1
179.9
182.3
189.0
189.9
190.5
161.6
167.0
168.2
172.6
175.7
176.0
157.7
165.1
158.9
154.2
151.5
157.5
149.3
154.1
161.4
159.0
168.6
178.7
170.9
196.2
185.0
159.8
164.4
170.2
164.2
179.6
183.9
187.8
195.6
206.2
188.9
199.4
198.7

Non-Financial Co.
CP and Other
162.9
152.1
149.4
157.7
149.0
156.3
144.0
134.9
135.0
134.7
127.3
137.6
138.3
127.8
128.4
122.3
119.3
123.3
120.1
119.4
123.8
127.4
112.3
114.7
124.4
121.6
123.4
120.3
109.0
119.9
121.7
115.9
122.4
119.7
109.8
118.2
123.5
118.4
126.4
129.9
132.8
138.1
138.3
143.1
149.6
141.9
132.7
144.2
144.1

Asset-Backed
64.4
53.6
55.7
62.1
62.6
59.4
56.2
53.4
48.8
46.7
46.0
46.6
44.1
41.8
41.8
39.3
36.6
34.5
35.9
35.9
36.4
35.4
35.9
35.1
31.9
32.5
31.2
30.2
27.6
29.7
36.4
37.4
40.8
41.0
43.5
47.7
48.7
45.1
44.8
47.6
54.0
60.1
58.6
59.9
61.1
63.7
72.1
76.3
77.4

Total
1,106.4
981.4
1,095.5
1,156.2
1,172.3
1,150.2
1,149.5
999.0
960.1
963.0
910.1
950.1
921.6
921.3
922.2
905.5
890.8
870.7
863.4
863.6
857.2
832.4
811.8
824.7
818.1
850.6
834.8
852.3
859.2
916.4
956.3
970.9
1,014.2
1,034.2
1,043.5
1,125.1
1,162.4
1,137.1
1,174.3
1,189.0
1,200.5
1,229.3
1,252.6
1,258.9
1,279.7
1,313.8
1,306.4
1,362.6
1,396.8

Page 30 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table A12: Government & Treasury Funds Bank Repo
Counterparties by Country ($ Billions)
Month
2020-02
2020-03
2020-04
2020-05
2020-06
2020-07
2020-08
2020-09
2020-10
2020-11
2020-12
2021-01
2021-02
2021-03
2021-04
2021-05
2021-06
2021-07
2021-08
2021-09
2021-10
2021-11
2021-12
2022-01
2022-02
2022-03
2022-04
2022-05
2022-06
2022-07
2022-08
2022-09
2022-10
2022-11
2022-12
2023-01
2023-02
2023-03
2023-04
2023-05
2023-06
2023-07
2023-08
2023-09
2023-10
2023-11
2023-12
2024-01
2024-02

US
210.7
200.3
201.4
177.4
172.1
168.3
179.8
172.5
190.8
169.0
166.9
162.4
198.3
213.0
183.5
177.9
160.7
160.2
154.3
146.0
133.3
118.0
107.6
123.3
128.2
108.6
115.1
114.0
100.5
93.3
106.5
103.4
108.9
128.8
107.2
185.4
193.3
244.0
247.2
306.0
292.6
288.4
292.2
320.3
334.0
381.5
393.8
451.8
421.0

Canada
166.5
186.1
153.9
139.8
131.4
129.4
134.4
132.8
126.4
132.8
140.9
135.5
151.7
154.6
160.0
145.3
117.1
124.1
126.5
125.4
138.7
154.9
165.7
124.4
120.6
109.1
98.5
88.6
73.6
83.9
90.9
75.3
83.9
94.2
103.2
100.1
101.4
112.2
106.1
142.6
145.1
152.4
160.4
177.3
174.6
201.4
218.3
182.6
204.4

France
213.7
181.2
217.1
190.6
146.1
189.2
197.2
189.4
204.4
211.6
177.5
193.6
209.1
185.0
207.3
190.6
132.4
165.7
158.7
141.3
158.8
160.3
89.2
129.0
142.2
124.8
130.6
108.3
73.6
92.9
98.6
55.7
70.3
67.2
49.8
87.5
97.0
83.0
114.0
131.7
119.5
147.0
167.3
143.5
159.0
167.0
132.8
188.7
183.5

UK
121.2
96.2
117.5
78.2
67.6
76.7
78.4
81.3
73.1
83.9
80.3
84.3
90.3
78.5
86.3
79.9
64.0
72.3
68.0
51.8
47.1
54.5
42.1
50.8
61.9
38.9
55.4
46.5
24.8
33.4
43.0
26.6
43.9
59.2
39.5
65.7
42.5
44.2
70.3
93.3
81.6
102.0
112.5
76.6
106.7
139.6
93.4
132.7
144.1

Germany
24.5
25.4
31.4
29.8
22.4
27.5
21.0
22.8
20.5
19.6
12.4
15.5
23.6
18.8
25.6
23.1
21.6
30.0
27.9
21.1
21.4
14.8
10.2
11.1
11.4
7.8
9.0
10.0
10.4
9.8
11.3
10.1
10.2
8.4
10.8
12.8
13.0
11.5
11.7
18.4
19.7
23.4
25.9
20.0
29.2
32.4
17.9
31.7
21.2

Japan
151.7
147.0
159.8
142.2
118.5
118.6
132.0
120.7
117.8
135.1
124.9
136.6
142.4
144.4
152.3
150.2
140.9
138.7
140.2
129.3
124.2
123.0
124.5
127.7
124.4
116.4
114.3
106.3
79.3
78.6
83.5
74.0
79.3
88.8
77.8
83.9
81.2
89.5
93.4
100.6
111.2
108.4
111.5
124.7
117.8
138.5
131.3
141.4
140.9

Other
41.6
45.5
42.9
40.0
36.4
44.0
44.8
41.3
44.1
45.2
28.5
37.2
42.2
42.1
41.6
37.9
33.3
32.7
36.4
28.1
27.7
33.4
22.3
27.6
29.1
26.8
23.5
23.8
19.4
21.4
25.5
23.4
22.2
25.2
20.7
25.1
25.2
35.6
35.1
37.1
42.7
40.3
41.8
41.3
51.4
45.5
36.1
45.8
43.2

Page 31 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table A13: Money Market Fund Repurchase Agreements with
the Federal Reserve ($ Billions)
Month
2020-02
2020-03
2020-04
2020-05
2020-06
2020-07
2020-08
2020-09
2020-10
2020-11
2020-12
2021-01
2021-02
2021-03
2021-04
2021-05
2021-06
2021-07
2021-08
2021-09
2021-10
2021-11
2021-12
2022-01
2022-02
2022-03
2022-04
2022-05
2022-06
2022-07
2022-08
2022-09
2022-10
2022-11
2022-12
2023-01
2023-02
2023-03
2023-04
2023-05
2023-06
2023-07
2023-08
2023-09
2023-10
2023-11
2023-12
2024-01
2024-02

Total
2.2
284.9
1.8
1.3
1.0
0.2
0.8
9.6
5.4
2.7
125.3
179.7
458.6
855.1
885.6
1,049.6
1,438.9
1,345.7
1,397.0
1,739.7
1,474.6
1,445.7
1,658.1
1,670.3
1,753.2
2,062.9
2,098.2
2,069.4
2,220.6
2,145.0
2,003.5
2,339.6
1,989.0
2,097.3
2,230.8
2,213.9
2,044.0
1,906.0
1,753.1
1,565.2
1,484.0
1,084.1
849.3
968.7
583.4
464.9

Page 32 of 35

U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

Table A14: Securities with more than 179 Days to Maturity
(Percent)
Month
2020-02
2020-03
2020-04
2020-05
2020-06
2020-07
2020-08
2020-09
2020-10
2020-11
2020-12
2021-01
2021-02
2021-03
2021-04
2021-05
2021-06
2021-07
2021-08
2021-09
2021-10
2021-11
2021-12
2022-01
2022-02
2022-03
2022-04
2022-05
2022-06
2022-07
2022-08
2022-09
2022-10
2022-11
2022-12
2023-01
2023-02
2023-03
2023-04
2023-05
2023-06
2023-07
2023-08
2023-09
2023-10
2023-11
2023-12
2024-01
2024-02

Prime
Institutional
10.3
9.1
6.9
6.1
6.9
8.2
7.3
7.2
7.8
7.0
6.9
7.8
7.6
7.9
7.8
8.0
8.0
7.9
7.5
7.2
7.7
7.0
6.8
6.1
6.1
6.4
6.0
6.2
6.0
5.6
5.5
5.0
4.8
4.5
4.5
5.4
5.6
6.5
7.4
6.9
6.9
6.3
6.1
6.1
6.3
7.0
6.3
7.0
6.9

Prime
Retail
7.7
5.7
4.8
3.1
5.1
6.7
6.3
3.2
4.3
2.8
2.4
2.8
3.9
4.6
4.5
6.1
6.2
5.7
6.2
6.5
7.6
5.4
3.8
3.9
4.2
3.8
4.6
6.2
6.8
8.0
8.2
6.6
5.2
4.2
4.2
4.7
4.8
4.8
4.1
4.2
3.7
4.7
7.3
6.6
7.0
7.0
5.6
6.4
6.6

Tax Exempt
Institutional
2.2
0.6
0.9
1.4
2.4
2.7
2.6
3.4
3.1
3.1
2.3
1.4
1.2
1.1
0.6
0.7
1.7
2.0
2.2
2.3
2.1
2.1
1.3
0.4
0.2
0.3
0.2
0.1
0.6
0.6
0.8
1.0
0.9
0.9
0.9
0.7
0.2
0.1
0.2
0.6
0.9
0.8
0.5
0.6
0.5
0.2
0.1
0.1
-

Tax Exempt
Retail
5.9
4.9
4.1
4.2
5.9
7.0
7.2
7.0
6.0
5.7
4.4
3.2
2.7
2.8
2.6
2.9
4.0
4.3
4.5
4.7
5.0
5.1
3.6
2.3
2.0
1.9
1.7
1.6
1.9
1.6
2.1
2.3
2.2
2.4
2.0
1.5
1.4
1.2
1.5
1.8
2.9
3.4
4.1
5.1
5.8
5.7
4.0
3.6
3.4

Government
18.1
18.9
17.6
16.4
16.1
16.5
15.9
14.8
14.4
14.3
15.4
14.8
14.9
15.1
14.0
12.7
13.8
13.9
13.4
13.8
14.4
14.7
13.5
13.9
13.2
13.5
13.4
13.2
12.7
12.8
11.8
12.3
12.8
11.4
11.5
12.0
11.9
13.1
13.7
13.4
13.5
13.7
13.4
13.8
14.7
13.6
13.5
15.0
15.8

Treasury
17.2
15.8
14.9
13.7
14.5
15.0
13.8
14.3
14.9
12.6
14.9
15.5
13.5
13.9
14.4
11.6
13.4
14.8
12.6
13.7
15.1
13.6
12.9
13.8
12.2
13.3
13.5
11.9
11.9
11.8
9.9
9.7
10.0
8.3
8.6
8.8
7.6
7.1
8.1
7.6
8.1
8.4
8.0
8.7
10.1
9.3
10.9
12.2
12.0

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U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

II

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).

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 here.

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.

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U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through March 12, 2024

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 shortterm obligations issued by corporations and banks, as well as repurchase
agreements and asset-backed commercial paper.2 Nonpublic Prime Institutional Money Market Fund : A Fund that disclosed in its public filings
with the SEC (Form N-CEN, Form N-CSR, or the Fund’s prospectus)
that its shares are not intended to be offered to the public. Prime Institutional Money Market Funds that do not provide such disclosures are
considered to be offered to the public.

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 Money Market 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.

2
See Money Market Fund Reform; Amendments to Form PF, Investment Company Act Release No. 31166 (July 23,
2014), available here.
3
Id.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/documents/agency%3Asec%3Abd0e157a42812cfe. Public record. Not legal advice.