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Division of Investment Management
Analytics Office
Money Market Fund Statistics
Form N-MFP Data, period ending June 2020
Filings Received through July 8, 2020
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 July 8, 2020. 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 Viktoria Baklanova
(baklanovav@sec.gov), Isaac Kuznits (kuznitsi@sec.gov), or Trevor Tatum (tatumt@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 July 8, 2020
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
Retail
Subtotal
Retail
Institutional
Subtotal
Government
Treasury
Total
2020-06
79
50
29
80
66
14
200
144
56
359
Change
↓1
↓1
↓1
2020-05
79
50
29
80
66
14
201
145
56
360
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
Retail
Subtotal
Retail
Institutional
Subtotal
Government
Treasury
Total
2020-06
1,161.9
706.9
455.0
136.6
117.4
19.2
3,805.5
2,561.5
1,244.0
5,104.0
Change
↑21.3
↑20.1
↑1.2
↓3.5
↓3.2
↓0.3
↓145.1
↓94.2
↓50.9
↓127.3
2020-05
1,140.6
686.8
453.8
140.1
120.6
19.5
3,950.6
2,655.7
1,294.9
5,231.3
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 July 8, 2020
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
2020-06
0.33
0.42
0.21
0.33
0.26
0.26
Change
↓0.07
↓0.11
↑0.00
↓0.09
↓0.03
↓0.02
2020-05
0.40
0.53
0.21
0.42
0.29
0.28
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
2020-06
0.26
0.19
0.09
0.10
0.07
0.07
Change
↓0.07
↓0.09
↑0.01
↓0.06
↓0.02
↓0.02
2020-05
0.33
0.28
0.08
0.16
0.09
0.09
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
2020-06
57.6
62.0
17.7
32.9
102.9
97.1
Change
↑0.4
↑2.0
↑1.8
↑2.3
↑0.6
↓0.9
2020-05
57.2
60.0
15.9
30.6
102.3
98.0
Page 2 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
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
2020-06
40.4
46.1
17.2
30.7
41.3
45.8
Change
↓2.8
↓1.5
↑1.8
↑2.2
↑0.9
↓1.4
2020-05
43.2
47.6
15.4
28.4
40.3
47.1
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
2020-06
50.3
43.6
61.9
97.1
Change
↑0.3
↑1.5
↑3.6
↑1.5
2020-05
50.0
42.1
58.3
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
2020-06
62.6
51.6
86.5
73.2
76.1
99.5
Change
↑0.4
↑1.1
↓1.0
↑2.2
↑2.3
↑0.7
2020-05
62.2
50.5
87.5
71.0
73.8
98.8
Page 3 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Table 9: Prime Holdings of Bank-Related Securities
by Country ($ Billions)
See Figure 9 for more details.
Country
Canada
Japan
France
US
UK
Germany
Netherlands
Aust/NZ
Switzerland
2020-06
140.8
95.8
84.8
79.7
45.3
35.8
30.2
26.6
18.9
Change
↑5.2
↑6.1
↓9.0
↑0.8
↓0.3
↓5.7
↓6.8
↓4.5
↑0.0
2020-05
135.6
89.7
93.8
78.9
45.6
41.5
37.0
31.1
18.9
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)
2020-06
221.2
156.9
141.6
105.2
Change
↑6.2
↓25.8
↑4.4
↑0.4
2020-05
215.0
182.7
137.2
104.8
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
2020-06
534.0
252.7
174.0
149.0
62.6
1,172.3
Change
↑44.7
↓22.8
↑2.4
↓8.7
↑0.5
↑16.1
2020-05
489.3
275.5
171.6
157.7
62.1
1,156.2
Page 4 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
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
2020-06
172.1
131.4
146.1
67.6
22.4
118.5
36.5
694.6
Change
↓5.3
↓8.3
↓44.5
↓10.6
↓7.4
↓23.8
↓3.5
↓103.4
2020-05
177.4
139.7
190.6
78.2
29.8
142.3
40.0
798.0
Table 13: Money Market Fund Repurchase Agreements
with the Federal Reserve ($ Billions)
See Figure 13 for more details.
Total
2020-06
1.0
Change
↓0.3
2020-05
1.3
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
2020-06
6.9
5.1
2.4
5.9
16.1
14.5
Change
↑0.8
↑2.0
↑1.0
↑1.7
↓0.3
↑0.8
2020-05
6.1
3.1
1.4
4.2
16.4
13.7
Page 5 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Figure 1: Number of Money Market Funds2
See Table A1 for more details.
Number of Money Market Funds
250
Prime
(Pre-Oct. 2016)
Tax Exempt
(Pre-Oct. 2016)
Prime Inst.
Tax Exempt Inst.
Prime Retail
Tax Exempt Retail
Government
Treasury
200
150
100
50
20
1
20 6-08
1
20 6-10
1
20 6-12
1
20 7-02
1
20 7-04
1
20 7-06
1
20 7-08
1
20 7-10
1
20 7-12
1
20 8-02
1
20 8-04
1
20 8-06
1
20 8-08
1
20 8-10
1
20 8-12
1
20 9-02
1
20 9-04
1
20 9-06
1
20 9-08
1
20 9-10
1
20 9-12
2
20 0-02
2
20 0-04
20
-06
0
2
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.
Page 6 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Figure 2: Money Market Fund Net Assets ($ Billions)
See Table A2 for more details.
3,000
Prime
(Pre-Oct. 2016)
Tax Exempt
(Pre-Oct. 2016)
Prime Inst.
Tax Exempt Inst.
Prime Retail
Tax Exempt Retail
Government
Treasury
2,000
1,500
1,000
500
0
20
1
20 6-08
1
20 6-10
1
20 6-12
1
20 7-02
1
20 7-04
1
20 7-06
1
20 7-08
1
20 7-10
1
20 7-12
1
20 8-02
1
20 8-04
1
20 8-06
1
20 8-08
1
20 8-10
1
20 8-12
1
20 9-02
1
20 9-04
1
20 9-06
1
20 9-08
1
20 9-10
1
20 9-12
2
20 0-02
2
20 0-04
20
-06
Net Assets ($Billions)
2,500
Page 7 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Figure 3: Weighted 7-Day Gross Yields
See Table A3 for more details.
Asset-Weighted Seven-Day Gross Yield (%)
3.5
Prime
(Pre-Oct. 2016)
Tax Exempt
(Pre-Oct. 2016)
Prime Inst.
Tax Exempt Inst.
Prime Retail
Tax Exempt Retail
Government
Treasury
3.0
2.5
2.0
1.5
1.0
0.5
20
1
20 6-08
1
20 6-10
1
20 6-12
1
20 7-02
1
20 7-04
1
20 7-06
1
20 7-08
1
20 7-10
1
20 7-12
1
20 8-02
1
20 8-04
1
20 8-06
1
20 8-08
1
20 8-10
1
20 8-12
1
20 9-02
1
20 9-04
1
20 9-06
1
20 9-08
1
20 9-10
1
20 9-12
2
20 0-02
2
20 0-04
20
-06
0.0
Page 8 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Figure 4: Weighted 7-Day Net Yields
See Table A4 for more details.
Asset-Weighted Seven-Day Net Yield (%)
3.5
Prime
(Pre-Oct. 2016)
Tax Exempt
(Pre-Oct. 2016)
Prime Inst.
Tax Exempt Inst.
Prime Retail
Tax Exempt Retail
Government
Treasury
3.0
2.5
2.0
1.5
1.0
0.5
20
1
20 6-08
1
20 6-10
1
20 6-12
1
20 7-02
1
20 7-04
1
20 7-06
1
20 7-08
1
20 7-10
1
20 7-12
1
20 8-02
1
20 8-04
1
20 8-06
1
20 8-08
1
20 8-10
1
20 8-12
1
20 9-02
1
20 9-04
1
20 9-06
1
20 9-08
1
20 9-10
1
20 9-12
2
20 0-02
2
20 0-04
20
-06
0.0
Page 9 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Figure 5: Weighted Average Life (Days)
See Table A5 for more details.
120
Prime
(Pre-Oct. 2016)
Tax Exempt
(Pre-Oct. 2016)
Prime Inst.
Tax Exempt Inst.
Prime Retail
Tax Exempt Retail
Government
Treasury
Weighted Average Life (Days)
100
80
60
40
20
20
1
20 6-08
1
20 6-10
1
20 6-12
1
20 7-02
1
20 7-04
1
20 7-06
1
20 7-08
1
20 7-10
1
20 7-12
1
20 8-02
1
20 8-04
1
20 8-06
1
20 8-08
1
20 8-10
1
20 8-12
1
20 9-02
1
20 9-04
1
20 9-06
1
20 9-08
1
20 9-10
1
20 9-12
2
20 0-02
2
20 0-04
20
-06
0
Page 10 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Figure 6: Weighted Average Maturity (Days)
See Table A6 for more details.
Weighted Average Maturity (Days)
50
Prime
(Pre-Oct. 2016)
Tax Exempt
(Pre-Oct. 2016)
Prime Inst.
Tax Exempt Inst.
Prime Retail
Tax Exempt Retail
Government
Treasury
40
30
20
10
20
1
20 6-08
1
20 6-10
1
20 6-12
1
20 7-02
1
20 7-04
1
20 7-06
1
20 7-08
1
20 7-10
1
20 7-12
1
20 8-02
1
20 8-04
1
20 8-06
1
20 8-08
1
20 8-10
1
20 8-12
1
20 9-02
1
20 9-04
1
20 9-06
1
20 9-08
1
20 9-10
1
20 9-12
2
20 0-02
2
20 0-04
20
-06
0
Page 11 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Figure 7: Daily Liquid Assets to Total Assets (Percent)
See Table A7 for more details.
100
Prime (Pre-Oct. 2016)
Prime Institutional
Prime Retail
Government
Treasury
Ratio of Daily Liquid Assets
to Total Assets (%)
80
60
40
20
20
1
20 6-08
1
20 6-10
1
20 6-12
1
20 7-02
1
20 7-04
1
20 7-06
1
20 7-08
1
20 7-10
1
20 7-12
1
20 8-02
1
20 8-04
1
20 8-06
1
20 8-08
1
20 8-10
1
20 8-12
1
20 9-02
1
20 9-04
1
20 9-06
1
20 9-08
1
20 9-10
1
20 9-12
2
20 0-02
2
20 0-04
20
-06
0
Page 12 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
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
(Pre-Oct. 2016)
Tax Exempt
(Pre-Oct. 2016)
Prime Inst.
Tax Exempt Inst.
Prime Retail
Tax Exempt Retail
Government
Treasury
80
60
40
20
20
1
20 6-08
1
20 6-10
1
20 6-12
1
20 7-02
1
20 7-04
1
20 7-06
1
20 7-08
1
20 7-10
1
20 7-12
1
20 8-02
1
20 8-04
1
20 8-06
1
20 8-08
1
20 8-10
1
20 8-12
1
20 9-02
1
20 9-04
1
20 9-06
1
20 9-08
1
20 9-10
1
20 9-12
2
20 0-02
2
20 0-04
20
-06
0
Page 13 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
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
Canada
US
Japan
UK
France
Germany
Total Prime Holdings in Bank-Related Securities ($Billions) - Right
Total
Netherlands
Aust/NZ
Switzerland
800
700
80
600
500
60
400
40
300
200
20
100
0
20
1
20 6-08
1
20 6-10
1
20 6-12
1
20 7-02
1
20 7-04
1
20 7-06
1
20 7-08
1
20 7-10
1
20 7-12
1
20 8-02
1
20 8-04
1
20 8-06
1
20 8-08
1
20 8-10
1
20 8-12
1
20 9-02
1
20 9-04
1
20 9-06
1
20 9-08
1
20 9-10
1
20 9-12
2
20 0-02
2
20 0-04
20
-06
0
Page 14 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
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 ($Billions) - Right
Total
1,000
800
60
600
40
400
20
200
0
0
20
1
20 6-08
1
20 6-10
1
20 6-12
1
20 7-02
1
20 7-04
1
20 7-06
1
20 7-08
1
20 7-10
1
20 7-12
1
20 8-02
1
20 8-04
1
20 8-06
1
20 8-08
1
20 8-10
1
20 8-12
1
20 9-02
1
20 9-04
1
20 9-06
1
20 9-08
1
20 9-10
1
20 9-12
2
20 0-02
2
20 0-04
20
-06
80
Page 15 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Figure 11: Prime Money Market Fund Aggregate Product
Exposures
See Table A11 for more details.
100
Percent of Total Aggregate Product Exposure (%) - Left
Gov. and Treas.
Non-Financial Co. CP and Other
CDs and Time Deposits
Asset-Backed
Financial Co. CP
Total Aggregate Product Exposure ($Billions) - Right
Total
80
2,000
1,500
60
1,000
40
500
20
0
20
1
20 6-08
1
20 6-10
1
20 6-12
1
20 7-02
1
20 7-04
1
20 7-06
1
20 7-08
1
20 7-10
1
20 7-12
1
20 8-02
1
20 8-04
1
20 8-06
1
20 8-08
1
20 8-10
1
20 8-12
1
20 9-02
1
20 9-04
1
20 9-06
1
20 9-08
1
20 9-10
1
20 9-12
2
20 0-02
2
20 0-04
20
-06
0
Page 16 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
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
Canada
Germany
France
Total Aggregate Government and Treasury Bank Repo ($Billions) - Right
Total
Japan
Other
1,000
800
60
600
40
400
20
200
0
0
20
1
20 6-08
1
20 6-10
1
20 6-12
1
20 7-02
1
20 7-04
1
20 7-06
1
20 7-08
1
20 7-10
1
20 7-12
1
20 8-02
1
20 8-04
1
20 8-06
1
20 8-08
1
20 8-10
1
20 8-12
1
20 9-02
1
20 9-04
1
20 9-06
1
20 9-08
1
20 9-10
1
20 9-12
2
20 0-02
2
20 0-04
20
-06
80
Page 17 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Figure 13: Money Market Fund Repurchase Agreements
with the Federal Reserve ($ Billions)
450
See Table A13 for more details.
Repurchase Agreements with
the Federal Reserve$
400
350
300
250
200
150
100
50
20
1
20 6-08
1
20 6-10
1
20 6-12
1
20 7-02
1
20 7-04
1
20 7-06
1
20 7-08
1
20 7-10
1
20 7-12
1
20 8-02
1
20 8-04
1
20 8-06
1
20 8-08
1
20 8-10
1
20 8-12
1
20 9-02
1
20 9-04
1
20 9-06
1
20 9-08
1
20 9-10
1
20 9-12
2
20 0-02
2
20 0-04
20
-06
0
Page 18 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Figure 14: Securities with more than 179 Days to Maturity
(Percent)
See Table A14 for more details.
Securities with more than 179 Days
to Maturity (%)
20
Prime
(Pre-Oct. 2016)
Tax Exempt
(Pre-Oct. 2016)
Prime Inst.
Tax Exempt Inst.
Prime Retail
Tax Exempt Retail
Government
Treasury
15
10
5
20
1
20 6-08
1
20 6-10
1
20 6-12
1
20 7-02
1
20 7-04
1
20 7-06
1
20 7-08
1
20 7-10
1
20 7-12
1
20 8-02
1
20 8-04
1
20 8-06
1
20 8-08
1
20 8-10
1
20 8-12
1
20 9-02
1
20 9-04
1
20 9-06
1
20 9-08
1
20 9-10
1
20 9-12
2
20 0-02
2
20 0-04
20
-06
0
Page 19 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
I
Supporting Data
Table A1: Number of Money Market Funds Reporting
Fund totals do not include feeder funds.
Prime
Prime
Month (Pre-Oct. 2016) Institutional
2016-06
143
2016-07
140
2016-08
132
2016-09
115
2016-10
68
2016-11
57
2016-12
56
2017-01
56
2017-02
56
2017-03
56
2017-04
57
2017-05
56
2017-06
56
2017-07
56
2017-08
56
2017-09
56
2017-10
56
2017-11
48
2017-12
46
2018-01
46
2018-02
46
2018-03
46
2018-04
46
2018-05
46
2018-06
46
2018-07
46
2018-08
46
2018-09
47
2018-10
46
2018-11
46
2018-12
45
2019-01
45
2019-02
46
2019-03
46
2019-04
46
2019-05
47
2019-06
47
2019-07
47
2019-08
47
2019-09
47
2019-10
47
2019-11
47
2019-12
48
2020-01
50
2020-02
50
2020-03
50
2020-04
50
2020-05
50
2020-06
50
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
33
33
32
32
30
30
29
29
Tax Exempt
Tax Exempt Tax Exempt
(Pre-Oct. 2016) Institutional
Retail
Government Treasury Total
127
132
62
464
119
132
62
453
112
137
62
443
109
148
61
433
17
87
159
60
420
11
91
159
60
415
11
91
159
59
413
11
90
158
59
411
11
90
158
59
411
11
89
159
59
411
11
89
159
59
412
11
89
159
59
411
11
89
159
59
410
11
85
159
59
406
11
85
159
59
406
11
85
159
59
406
11
80
157
59
399
11
72
156
59
382
11
72
154
60
379
12
72
154
60
380
11
72
154
60
379
12
72
154
60
379
12
72
154
62
381
12
72
154
62
381
12
72
155
62
381
12
72
156
62
382
12
72
157
62
383
12
72
156
62
383
14
70
155
62
381
14
70
154
62
379
14
67
151
60
370
14
67
151
59
369
14
67
151
59
370
14
67
151
59
370
14
67
150
59
370
14
67
150
59
370
14
67
150
59
370
14
67
150
59
370
14
67
150
59
370
14
67
149
59
369
14
67
152
59
372
14
66
148
57
365
14
66
148
57
366
14
66
148
57
367
14
66
148
57
367
14
66
146
56
362
14
66
145
56
361
14
66
145
56
360
14
66
144
56
359
Page 20 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Table A2: Money Market Fund Net Assets ($ Billions)
Prime
Prime
Month (Pre-Oct. 2016) Institutional
2016-06
1,278.8
2016-07
1,234.4
2016-08
1,033.1
2016-09
739.9
2016-10
327.6
2016-11
315.5
2016-12
299.3
2017-01
313.0
2017-02
337.1
2017-03
345.6
2017-04
359.1
2017-05
362.3
2017-06
365.4
2017-07
373.6
2017-08
385.1
2017-09
404.6
2017-10
404.4
2017-11
415.8
2017-12
398.9
2018-01
409.1
2018-02
405.1
2018-03
403.2
2018-04
426.6
2018-05
424.7
2018-06
407.4
2018-07
418.8
2018-08
435.0
2018-09
442.8
2018-10
433.8
2018-11
449.3
2018-12
420.9
2019-01
458.0
2019-02
501.9
2019-03
591.4
2019-04
616.7
2019-05
616.1
2019-06
616.4
2019-07
626.6
2019-08
630.0
2019-09
631.3
2019-10
656.0
2019-11
666.1
2019-12
634.5
2020-01
655.1
2020-02
635.6
2020-03
558.9
2020-04
651.2
2020-05
686.8
2020-06
706.9
Prime
Retail
234.8
250.4
251.1
249.1
249.9
253.5
249.9
249.0
250.0
251.3
256.6
259.9
261.1
264.0
267.3
260.2
261.5
259.9
258.7
261.3
269.7
282.6
297.6
303.6
309.5
322.4
343.2
356.9
371.0
380.7
383.2
392.7
402.0
414.1
421.4
431.8
445.5
455.5
460.6
468.1
473.7
425.9
438.8
453.8
455.0
Tax Exempt Tax Exempt Tax Exempt
(Pre-Oct. 2016) Institutional
Retail
Government Treasury Total
201.6
940.1
571.9
2,992.4
190.3
1,005.5
583.6
3,013.8
159.1
1,192.8
608.3
2,993.3
135.6
1,424.3
645.1
2,944.9
11.7
123.2
1,572.8
644.6
2,914.7
9.9
125.4
1,627.6
646.1
2,974.9
8.5
126.0
1,622.3
651.2
2,958.4
10.1
125.3
1,587.7
632.1
2,917.3
9.3
125.5
1,583.7
625.9
2,931.4
10.2
125.1
1,565.1
630.0
2,929.5
10.3
122.6
1,552.3
622.9
2,917.1
10.4
123.4
1,542.7
632.8
2,920.6
10.3
122.8
1,522.2
626.5
2,897.2
11.1
124.3
1,518.8
638.0
2,917.1
10.5
122.5
1,553.2
660.3
2,988.2
10.4
121.6
1,574.3
663.7
3,034.5
10.8
121.9
1,570.5
656.3
3,025.0
9.8
123.1
1,594.7
672.9
3,080.3
8.5
126.0
1,623.8
701.1
3,125.6
11.0
130.6
1,576.6
693.6
3,081.1
11.0
129.2
1,611.1
704.0
3,121.9
10.6
126.5
1,579.3
694.1
3,073.6
11.2
124.7
1,600.2
683.2
3,104.6
11.5
131.3
1,634.1
687.4
3,150.3
11.3
127.8
1,586.8
695.4
3,098.4
11.5
123.0
1,586.5
691.2
3,113.6
11.7
123.4
1,581.3
694.6
3,143.6
12.1
123.1
1,572.2
701.9
3,155.7
12.0
126.1
1,578.5
703.9
3,163.8
12.6
130.6
1,602.3
735.9
3,253.1
12.4
137.2
1,634.0
750.0
3,297.7
14.6
131.2
1,636.2
732.3
3,329.2
15.0
128.7
1,659.3
730.3
3,406.2
15.7
129.3
1,637.9
739.0
3,494.0
13.9
124.7
1,629.0
727.2
3,494.7
13.6
127.1
1,671.2
752.2
3,572.9
14.6
126.5
1,689.4
765.8
3,614.7
15.0
125.9
1,723.4
785.3
3,690.3
15.8
125.0
1,776.1
798.4
3,766.7
14.7
124.3
1,818.4
829.0
3,849.5
15.4
127.2
1,858.5
835.5
3,938.1
16.6
127.2
1,868.2
850.0
3,983.6
15.2
127.6
1,913.1
869.9
4,020.9
16.0
125.8
1,891.8
859.8
4,016.6
15.7
125.3
1,930.1
853.5
4,033.9
15.3
116.7
2,425.2
1,196.7 4,738.7
17.5
123.6
2,651.7
1,317.5 5,200.3
19.5
120.6
2,655.7
1,294.9 5,231.3
19.2
117.4
2,561.5
1,244.0 5,104.0
Page 21 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Table A3: Asset-Weighted Seven-Day Gross Yield (Percent)
Prime
Prime
Month (Pre-Oct. 2016) Institutional
2016-06
0.57
2016-07
0.55
2016-08
0.57
2016-09
0.63
2016-10
0.63
2016-11
0.63
2016-12
0.79
2017-01
0.84
2017-02
0.84
2017-03
0.98
2017-04
1.02
2017-05
1.03
2017-06
1.20
2017-07
1.24
2017-08
1.25
2017-09
1.25
2017-10
1.26
2017-11
1.29
2017-12
1.48
2018-01
1.55
2018-02
1.60
2018-03
1.83
2018-04
1.92
2018-05
1.97
2018-06
2.11
2018-07
2.14
2018-08
2.15
2018-09
2.23
2018-10
2.35
2018-11
2.39
2018-12
2.58
2019-01
2.61
2019-02
2.62
2019-03
2.59
2019-04
2.58
2019-05
2.54
2019-06
2.50
2019-07
2.44
2019-08
2.26
2019-09
2.13
2019-10
1.99
2019-11
1.83
2019-12
1.80
2020-01
1.83
2020-02
1.73
2020-03
0.94
2020-04
0.59
2020-05
0.40
2020-06
0.33
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
1.91
1.88
1.83
1.79
1.15
0.85
0.53
0.42
Tax Exempt
Tax Exempt Tax Exempt
(Pre-Oct. 2016) Institutional
Retail
Government Treasury
0.46
0.45
0.39
0.47
0.43
0.38
0.60
0.43
0.38
0.81
0.44
0.37
0.63
0.70
0.44
0.39
0.59
0.62
0.44
0.42
0.76
0.77
0.58
0.53
0.69
0.72
0.61
0.56
0.67
0.71
0.62
0.58
0.86
0.87
0.76
0.74
0.92
0.94
0.80
0.78
0.81
0.84
0.85
0.84
0.91
0.93
1.01
1.00
0.84
0.89
1.05
1.07
0.83
0.86
1.07
1.05
0.94
0.96
1.08
1.07
0.95
0.97
1.10
1.10
0.98
1.00
1.14
1.15
1.61
1.59
1.33
1.32
1.14
1.18
1.38
1.37
1.14
1.16
1.44
1.47
1.48
1.46
1.69
1.69
1.72
1.71
1.75
1.74
1.16
1.24
1.80
1.80
1.53
1.53
1.95
1.92
1.08
1.10
1.97
1.95
1.57
1.59
2.01
2.01
1.59
1.59
2.11
2.12
1.64
1.66
2.22
2.23
1.74
1.74
2.28
2.29
1.75
1.76
2.45
2.44
1.41
1.45
2.45
2.44
1.76
1.78
2.47
2.45
1.53
1.59
2.49
2.49
2.23
2.20
2.49
2.48
1.58
1.52
2.45
2.43
1.88
1.88
2.43
2.37
1.47
1.48
2.39
2.30
1.42
1.42
2.18
2.14
1.58
1.56
2.03
2.03
1.22
1.26
1.89
1.86
1.14
1.17
1.71
1.71
1.58
1.54
1.67
1.66
0.97
1.00
1.64
1.63
1.17
1.20
1.64
1.63
3.36
3.35
0.55
0.57
0.30
0.51
0.39
0.37
0.21
0.42
0.29
0.28
0.21
0.33
0.26
0.26
Page 22 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Table A4: Asset-Weighted Seven-Day Net Yield (Percent)
Prime
Prime
Month (Pre-Oct. 2016) Institutional
2016-06
0.35
2016-07
0.34
2016-08
0.35
2016-09
0.40
2016-10
0.52
2016-11
0.56
2016-12
0.71
2017-01
0.76
2017-02
0.76
2017-03
0.91
2017-04
0.95
2017-05
0.96
2017-06
1.13
2017-07
1.16
2017-08
1.17
2017-09
1.17
2017-10
1.18
2017-11
1.21
2017-12
1.40
2018-01
1.46
2018-02
1.51
2018-03
1.75
2018-04
1.85
2018-05
1.89
2018-06
2.03
2018-07
2.05
2018-08
2.06
2018-09
2.14
2018-10
2.25
2018-11
2.30
2018-12
2.49
2019-01
2.52
2019-02
2.52
2019-03
2.52
2019-04
2.50
2019-05
2.46
2019-06
2.42
2019-07
2.36
2019-08
2.18
2019-09
2.05
2019-10
1.90
2019-11
1.75
2019-12
1.72
2020-01
1.74
2020-02
1.65
2020-03
0.87
2020-04
0.53
2020-05
0.33
2020-06
0.26
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
1.65
1.64
1.58
1.54
0.89
0.58
0.28
0.19
Tax Exempt
Tax Exempt Tax Exempt
(Pre-Oct. 2016) Institutional
Retail
Government Treasury
0.12
0.17
0.17
0.13
0.17
0.16
0.23
0.18
0.16
0.43
0.21
0.16
0.53
0.31
0.21
0.17
0.49
0.24
0.21
0.20
0.65
0.37
0.32
0.29
0.58
0.33
0.35
0.32
0.56
0.31
0.35
0.33
0.76
0.49
0.51
0.49
0.82
0.55
0.53
0.53
0.70
0.46
0.57
0.59
0.80
0.56
0.73
0.75
0.73
0.52
0.77
0.82
0.71
0.49
0.79
0.81
0.83
0.58
0.81
0.82
0.82
0.62
0.82
0.85
0.87
0.66
0.86
0.91
1.45
1.23
1.05
1.08
1.01
0.85
1.10
1.13
1.01
0.82
1.15
1.23
1.35
1.12
1.40
1.45
1.58
1.39
1.46
1.50
1.03
0.93
1.52
1.56
1.39
1.22
1.67
1.69
0.94
0.79
1.69
1.72
1.44
1.28
1.72
1.78
1.45
1.28
1.83
1.89
1.51
1.36
1.94
2.00
1.62
1.44
1.99
2.05
1.63
1.46
2.16
2.21
1.29
1.16
2.17
2.21
1.63
1.49
2.18
2.23
1.41
1.31
2.21
2.26
2.10
1.92
2.21
2.25
1.45
1.24
2.17
2.21
1.75
1.60
2.15
2.15
1.34
1.21
2.10
2.07
1.30
1.14
1.91
1.91
1.45
1.28
1.76
1.80
1.10
0.98
1.62
1.64
1.01
0.90
1.44
1.48
1.44
1.26
1.40
1.43
0.84
0.73
1.38
1.41
1.05
0.93
1.38
1.40
3.21
3.07
0.32
0.35
0.16
0.25
0.17
0.17
0.08
0.16
0.09
0.09
0.09
0.10
0.07
0.07
Page 23 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Table A5: Weighted Average Life (Days)
Prime
Prime
Month (Pre-Oct. 2016) Institutional
2016-06
45.1
2016-07
39.8
2016-08
36.5
2016-09
42.9
2016-10
52.8
2016-11
55.0
2016-12
54.1
2017-01
53.8
2017-02
50.7
2017-03
53.4
2017-04
53.7
2017-05
52.8
2017-06
57.1
2017-07
57.7
2017-08
56.5
2017-09
55.3
2017-10
57.2
2017-11
58.2
2017-12
57.8
2018-01
56.7
2018-02
53.0
2018-03
55.2
2018-04
51.3
2018-05
49.8
2018-06
53.0
2018-07
54.8
2018-08
57.1
2018-09
59.0
2018-10
56.0
2018-11
59.3
2018-12
58.1
2019-01
58.4
2019-02
59.0
2019-03
56.9
2019-04
56.4
2019-05
60.1
2019-06
58.2
2019-07
58.8
2019-08
61.5
2019-09
62.1
2019-10
65.7
2019-11
64.7
2019-12
62.1
2020-01
63.4
2020-02
64.4
2020-03
57.9
2020-04
58.0
2020-05
57.2
2020-06
57.6
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
78.2
70.2
64.1
63.0
59.8
60.6
60.0
62.0
Tax Exempt
Tax Exempt Tax Exempt
(Pre-Oct. 2016) Institutional
Retail
Government Treasury
25.3
97.0
102.8
26.7
98.7
98.9
29.0
97.4
99.7
27.5
93.4
97.3
14.1
27.0
93.1
98.0
15.6
28.1
93.8
96.8
16.9
29.3
95.1
98.6
15.2
27.9
94.6
100.1
15.2
26.8
91.3
98.2
14.3
24.5
88.7
95.5
12.4
22.9
84.8
89.5
10.9
20.3
82.0
87.1
11.1
24.1
84.4
94.6
10.0
24.7
86.1
89.6
12.7
30.5
85.2
90.2
14.1
29.4
84.0
90.6
14.3
27.1
80.3
86.5
14.6
28.1
86.2
82.8
17.2
30.8
89.6
86.7
13.3
27.1
91.4
88.9
13.1
26.2
90.4
89.3
13.4
26.6
90.2
93.3
10.4
24.0
86.3
90.8
11.2
23.9
82.1
92.1
10.5
25.1
84.9
94.0
10.7
24.0
83.3
90.5
9.8
25.6
84.2
93.5
11.7
32.1
86.8
93.5
13.3
32.6
87.8
91.9
14.3
31.2
86.0
89.2
13.9
29.2
87.2
90.9
12.9
29.6
85.7
93.1
14.0
27.9
88.2
92.4
14.6
27.6
93.0
92.5
12.9
25.1
90.9
92.8
14.1
25.0
93.3
91.2
14.1
32.5
95.5
91.1
12.8
31.4
94.7
93.7
14.0
37.2
97.0
97.0
16.2
38.5
98.1
95.2
19.5
41.7
97.7
98.7
19.2
40.5
97.6
99.6
18.8
36.6
96.1
97.7
16.3
34.7
93.0
95.0
15.7
33.8
91.9
97.4
14.2
34.2
98.3
92.4
13.4
31.2
100.1
96.4
15.9
30.6
102.3
98.0
17.7
32.9
102.9
97.1
Page 24 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Table A6: Weighted Average Maturity (Days)
Prime
Prime
Month (Pre-Oct. 2016) Institutional
2016-06
29.0
2016-07
24.8
2016-08
21.8
2016-09
25.8
2016-10
28.3
2016-11
27.1
2016-12
24.4
2017-01
24.8
2017-02
22.9
2017-03
23.0
2017-04
24.8
2017-05
22.3
2017-06
23.8
2017-07
25.7
2017-08
25.7
2017-09
23.7
2017-10
22.3
2017-11
23.3
2017-12
25.0
2018-01
24.0
2018-02
23.0
2018-03
26.4
2018-04
24.5
2018-05
22.2
2018-06
25.4
2018-07
27.6
2018-08
27.9
2018-09
28.0
2018-10
25.7
2018-11
27.7
2018-12
25.8
2019-01
27.6
2019-02
29.0
2019-03
33.3
2019-04
32.9
2019-05
33.6
2019-06
32.4
2019-07
32.2
2019-08
32.6
2019-09
31.0
2019-10
34.1
2019-11
33.8
2019-12
30.4
2020-01
30.6
2020-02
31.1
2020-03
31.3
2020-04
40.8
2020-05
43.2
2020-06
40.4
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
43.7
36.5
32.3
33.3
34.5
42.6
47.6
46.1
Tax Exempt
Tax Exempt Tax Exempt
(Pre-Oct. 2016) Institutional
Retail
Government Treasury
23.3
39.4
43.0
24.9
39.5
42.3
26.6
39.1
45.3
24.9
40.4
46.2
13.6
24.6
41.8
46.5
14.8
25.7
42.2
46.0
15.9
27.1
45.0
47.0
14.3
25.3
42.3
46.6
14.5
23.8
40.0
43.1
13.7
21.9
38.1
40.2
11.7
20.2
34.8
36.3
10.5
17.3
31.2
33.3
10.4
21.3
32.0
37.7
9.4
21.8
31.2
34.8
12.1
27.4
29.7
35.8
13.4
26.8
30.3
36.5
13.6
24.5
28.8
33.1
14.1
25.7
30.1
31.3
16.5
28.7
31.8
34.9
12.8
24.9
29.5
34.6
12.7
24.0
28.9
36.9
12.8
24.5
32.2
37.1
9.8
21.0
28.5
34.6
10.9
21.2
27.0
34.0
10.2
22.1
29.3
36.1
9.8
20.2
27.6
31.8
9.2
22.3
28.6
32.5
11.4
28.8
33.3
33.6
12.9
30.0
32.2
32.2
14.1
29.0
31.0
29.6
13.5
27.2
30.3
31.4
12.5
27.5
27.0
32.5
13.5
25.4
26.8
31.6
14.2
25.3
29.7
32.4
12.6
22.7
28.0
31.8
13.8
22.6
27.6
32.5
13.7
30.6
27.6
31.7
12.4
28.9
26.8
33.4
13.8
34.7
27.6
36.1
15.9
35.9
29.8
36.9
19.1
39.2
31.8
40.9
19.0
38.1
34.4
44.1
18.5
34.6
35.5
42.6
15.9
32.4
30.1
38.1
15.1
31.5
29.4
38.2
13.9
31.8
34.4
41.6
12.9
28.9
36.0
46.3
15.4
28.4
40.3
47.1
17.2
30.7
41.3
45.8
Page 25 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Table A7: Ratio of Daily Liquid Assets to Total Assets
(Percent)
Month
2016-06
2016-07
2016-08
2016-09
2016-10
2016-11
2016-12
2017-01
2017-02
2017-03
2017-04
2017-05
2017-06
2017-07
2017-08
2017-09
2017-10
2017-11
2017-12
2018-01
2018-02
2018-03
2018-04
2018-05
2018-06
2018-07
2018-08
2018-09
2018-10
2018-11
2018-12
2019-01
2019-02
2019-03
2019-04
2019-05
2019-06
2019-07
2019-08
2019-09
2019-10
2019-11
2019-12
2020-01
2020-02
2020-03
2020-04
2020-05
2020-06
Prime
Prime
(Pre-Oct. 2016) Institutional
31.0
34.8
38.9
43.0
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
35.4
37.0
37.0
37.3
42.5
47.6
50.0
50.3
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
23.9
24.3
24.6
25.7
33.9
37.9
42.1
43.6
Government Treasury
35.0
94.1
32.6
90.1
40.0
92.9
46.7
93.3
47.3
93.5
46.4
93.1
49.3
94.4
43.6
93.5
44.2
93.0
47.3
94.5
44.0
89.7
45.1
91.1
44.8
93.2
41.2
91.4
42.4
90.2
42.4
91.8
43.8
90.7
42.6
91.2
45.9
93.4
40.9
91.4
44.3
91.1
47.0
92.4
46.3
91.6
46.8
91.0
44.8
91.0
44.5
90.8
47.1
92.3
46.8
91.7
46.7
92.1
46.2
91.6
48.7
93.5
47.4
92.5
46.8
92.0
43.9
92.2
42.9
91.5
42.3
90.7
43.1
90.2
45.1
90.3
47.6
91.0
46.6
91.3
47.0
91.9
45.5
90.7
45.6
91.6
47.1
90.5
46.8
89.6
46.9
94.3
54.0
96.0
58.3
95.6
61.9
97.1
Page 26 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Table A8: Ratio of Weekly Liquid Assets to Total Assets
(Percent)
Prime
Prime
Month (Pre-Oct. 2016) Institutional
2016-06
49.0
2016-07
53.7
2016-08
62.3
2016-09
62.5
2016-10
58.0
2016-11
57.5
2016-12
58.8
2017-01
56.0
2017-02
56.2
2017-03
56.1
2017-04
54.3
2017-05
54.7
2017-06
56.5
2017-07
55.7
2017-08
54.7
2017-09
56.0
2017-10
55.8
2017-11
55.4
2017-12
55.1
2018-01
53.6
2018-02
54.7
2018-03
54.0
2018-04
55.6
2018-05
54.8
2018-06
54.4
2018-07
55.1
2018-08
55.5
2018-09
54.3
2018-10
55.1
2018-11
54.0
2018-12
54.0
2019-01
54.6
2019-02
54.3
2019-03
55.8
2019-04
54.2
2019-05
52.6
2019-06
53.7
2019-07
53.1
2019-08
54.5
2019-09
53.8
2019-10
52.5
2019-11
52.0
2019-12
53.3
2020-01
53.1
2020-02
51.3
2020-03
55.2
2020-04
60.0
2020-05
62.2
2020-06
62.6
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
38.8
39.4
40.6
41.1
45.3
48.5
50.5
51.6
Tax Exempt
Tax Exempt Tax Exempt
(Pre-Oct. 2016) Institutional
Retail
Government Treasury
81.0
58.8
98.9
77.2
58.2
96.0
79.8
63.8
98.6
78.6
67.6
98.6
93.1
79.1
69.5
98.4
90.4
79.0
68.8
98.5
90.5
77.3
68.3
98.4
91.3
76.5
67.3
98.6
89.1
76.8
68.8
98.7
88.2
79.2
68.6
99.0
85.5
75.8
69.2
96.1
90.0
80.2
69.7
98.3
92.9
80.6
68.4
99.2
90.3
79.5
67.5
98.9
91.1
77.7
66.8
98.3
83.6
66.0
67.7
98.2
88.3
78.4
70.8
97.8
89.5
79.3
69.8
99.0
85.4
76.3
69.9
98.4
87.4
78.0
70.5
98.0
87.1
77.7
70.7
97.8
84.3
74.3
69.7
97.7
89.8
75.4
70.5
98.4
88.7
76.7
71.3
98.5
90.3
77.4
69.9
98.6
85.4
78.3
70.9
98.0
91.6
79.4
72.4
98.8
86.4
76.2
70.4
98.3
89.1
76.4
70.8
98.2
88.9
77.4
71.8
99.0
87.5
76.7
71.6
98.8
89.6
74.4
70.6
98.2
88.8
76.4
70.7
98.1
87.5
75.5
69.3
98.2
84.9
74.8
69.2
98.2
87.2
76.2
69.3
98.6
86.2
74.6
69.8
97.7
86.0
76.1
69.8
97.9
86.6
75.1
71.8
97.6
84.8
74.3
71.9
98.2
87.5
73.2
70.5
98.6
86.5
72.1
69.3
97.5
84.6
72.1
70.3
98.4
86.9
73.1
72.0
98.1
83.5
70.7
70.3
97.6
85.5
70.8
68.0
99.0
87.2
70.3
71.5
99.4
87.5
71.0
73.8
98.8
86.5
73.2
76.1
99.5
Page 27 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Table A9: Prime Holdings of Bank-Related Securities
by Country ($ Billions)
Month
2016-06
2016-07
2016-08
2016-09
2016-10
2016-11
2016-12
2017-01
2017-02
2017-03
2017-04
2017-05
2017-06
2017-07
2017-08
2017-09
2017-10
2017-11
2017-12
2018-01
2018-02
2018-03
2018-04
2018-05
2018-06
2018-07
2018-08
2018-09
2018-10
2018-11
2018-12
2019-01
2019-02
2019-03
2019-04
2019-05
2019-06
2019-07
2019-08
2019-09
2019-10
2019-11
2019-12
2020-01
2020-02
2020-03
2020-04
2020-05
2020-06
Canada
137.7
112.5
99.6
76.8
56.3
60.3
70.6
64.2
66.5
81.1
68.8
69.1
80.4
79.4
76.9
84.7
78.5
93.1
101.9
88.7
89.3
90.3
84.9
89.5
91.8
86.0
90.4
105.0
98.5
103.3
123.3
105.7
112.4
118.7
124.3
129.5
147.8
150.6
144.8
158.4
148.6
160.3
168.8
149.6
164.1
139.3
132.5
135.6
140.8
Japan
145.9
128.9
87.6
50.4
47.9
43.8
44.8
43.6
44.9
47.5
48.3
47.7
49.4
48.3
48.5
51.6
50.1
54.1
51.9
50.2
55.2
53.1
57.7
64.4
59.6
65.7
66.4
71.2
69.0
71.1
83.0
103.9
89.0
86.9
99.7
99.9
96.8
102.1
104.3
105.1
113.4
111.6
117.3
115.7
107.3
87.0
97.2
89.7
95.8
France
111.5
157.2
145.4
55.4
53.1
57.6
41.6
55.0
62.0
47.3
59.4
63.0
45.2
56.3
64.7
54.2
63.3
65.6
39.1
62.1
63.5
50.3
61.3
56.7
48.0
60.5
59.7
60.9
78.2
68.3
53.8
75.6
79.8
65.4
86.1
86.5
72.1
96.1
90.5
75.2
85.0
93.3
76.7
108.2
101.1
71.1
88.4
93.8
84.8
US
143.7
127.7
100.7
77.2
55.4
52.9
58.6
58.1
54.0
56.3
61.2
57.4
59.5
61.2
61.6
56.0
61.0
65.1
67.4
72.4
63.8
67.9
66.2
68.4
66.4
66.2
71.8
71.2
77.4
83.0
92.4
95.3
94.8
104.6
117.8
118.1
121.7
125.6
126.5
132.8
124.6
108.2
106.9
119.1
113.1
80.0
87.7
78.9
79.7
UK
57.5
52.6
40.6
30.2
25.7
21.8
13.6
24.1
20.5
18.2
25.9
26.2
23.1
25.7
26.0
29.7
31.3
32.9
30.5
32.5
35.5
37.8
38.8
41.6
31.9
41.4
44.6
38.3
46.2
49.4
35.4
42.3
44.5
44.5
40.3
42.6
48.7
52.2
45.8
38.8
54.5
49.3
35.8
44.7
50.1
40.6
45.6
45.6
45.3
Germany
44.3
48.9
39.5
28.7
23.7
22.7
19.9
25.3
26.5
26.1
25.0
25.6
18.8
27.0
28.4
29.8
28.2
33.1
24.5
28.7
27.2
30.2
31.3
34.6
32.6
35.0
34.3
35.4
40.3
39.6
23.1
31.0
31.4
40.1
41.3
43.6
42.9
51.4
53.5
56.0
52.8
51.3
35.8
54.5
56.1
43.7
40.3
41.5
35.8
Netherlands
39.6
35.7
28.0
23.8
20.3
21.8
12.3
16.8
16.4
16.4
19.9
21.4
16.2
24.2
31.5
21.3
34.7
29.2
14.5
36.6
33.1
29.0
28.1
29.2
19.0
36.3
32.1
29.6
26.9
23.8
15.6
32.8
25.0
32.5
31.6
31.7
28.8
38.2
35.3
37.4
47.2
42.6
34.0
42.8
44.6
36.4
37.2
37.0
30.2
Aust/NZ
63.1
60.8
50.3
37.4
28.3
29.0
34.5
33.0
35.3
38.8
39.1
37.4
38.2
36.5
38.7
41.3
40.9
42.4
47.1
42.4
39.2
39.9
36.7
32.5
35.7
28.9
30.6
31.4
33.8
39.1
40.2
35.9
36.0
36.0
33.8
36.1
38.2
39.9
43.5
44.7
50.0
52.0
54.6
54.8
46.5
41.2
32.8
31.1
26.6
Switzerland
29.1
34.0
24.6
13.2
12.3
10.5
11.3
11.8
12.0
10.9
14.8
16.2
15.5
12.9
14.7
15.0
16.7
15.8
16.4
20.9
24.0
18.1
30.5
25.3
17.8
19.9
19.0
10.7
20.4
21.2
23.9
24.0
29.5
21.6
28.4
26.0
21.9
26.1
24.2
21.4
23.1
31.2
28.1
32.9
26.6
20.0
20.1
18.9
18.9
Page 28 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Table A10: Prime Holdings of Bank-Related Securities
by Region ($ Billions)
Month
2016-06
2016-07
2016-08
2016-09
2016-10
2016-11
2016-12
2017-01
2017-02
2017-03
2017-04
2017-05
2017-06
2017-07
2017-08
2017-09
2017-10
2017-11
2017-12
2018-01
2018-02
2018-03
2018-04
2018-05
2018-06
2018-07
2018-08
2018-09
2018-10
2018-11
2018-12
2019-01
2019-02
2019-03
2019-04
2019-05
2019-06
2019-07
2019-08
2019-09
2019-10
2019-11
2019-12
2020-01
2020-02
2020-03
2020-04
2020-05
2020-06
Americas
282.7
241.7
201.4
154.5
112.3
113.8
129.8
122.9
121.3
138.4
130.6
127.1
140.4
141.1
139.2
141.2
140.1
158.8
170.1
161.7
153.7
158.8
151.6
158.6
158.8
152.8
162.9
177.2
176.6
186.8
216.5
201.6
207.7
223.9
242.7
248.3
270.2
277.0
272.0
291.8
273.7
269.0
276.0
269.1
277.7
219.6
220.8
215.0
221.2
Eurozone
202.0
256.2
227.7
110.4
102.5
108.0
78.4
107.5
115.9
95.2
117.1
122.7
86.6
120.2
137.3
112.3
141.1
141.6
86.7
140.6
135.4
115.3
130.6
127.9
106.8
140.1
135.0
133.7
158.0
146.2
103.4
155.8
151.1
146.0
168.8
168.6
152.0
195.3
189.7
178.4
197.1
199.3
156.3
222.8
218.9
162.1
179.5
182.7
156.9
Asia-Pacific
241.9
219.5
161.9
98.6
84.3
80.6
88.8
86.2
90.3
97.1
98.5
95.3
102.0
98.4
100.5
107.7
103.3
109.9
114.2
104.4
107.3
106.8
108.5
109.8
110.0
110.0
111.8
119.7
118.5
124.8
138.1
153.6
139.5
141.5
152.9
159.1
161.3
166.1
172.3
175.8
189.9
188.0
196.4
194.3
174.1
144.1
144.0
137.2
141.6
Europe (non-Euro)
189.9
221.9
186.9
108.2
86.9
81.3
53.8
84.3
88.2
91.0
99.1
99.4
92.0
90.4
98.6
107.4
106.4
101.8
85.4
104.2
111.0
98.3
124.3
115.5
107.2
115.7
117.8
101.2
118.9
122.6
99.3
119.7
139.0
130.1
124.5
118.6
125.5
121.4
119.4
109.3
129.8
135.7
105.2
137.9
133.6
108.2
111.9
104.8
105.2
Page 29 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Table A11: Prime Money Market Fund Aggregate Product
Exposures ($ Billions)
Month
2016-06
2016-07
2016-08
2016-09
2016-10
2016-11
2016-12
2017-01
2017-02
2017-03
2017-04
2017-05
2017-06
2017-07
2017-08
2017-09
2017-10
2017-11
2017-12
2018-01
2018-02
2018-03
2018-04
2018-05
2018-06
2018-07
2018-08
2018-09
2018-10
2018-11
2018-12
2019-01
2019-02
2019-03
2019-04
2019-05
2019-06
2019-07
2019-08
2019-09
2019-10
2019-11
2019-12
2020-01
2020-02
2020-03
2020-04
2020-05
2020-06
Gov. and Treas.
315.9
276.8
220.1
222.9
125.9
125.2
138.1
105.9
109.1
122.9
105.5
120.1
154.7
136.5
117.6
150.2
137.3
132.1
162.5
120.8
123.7
161.9
163.5
161.9
158.9
156.4
189.3
186.7
172.4
190.3
212.8
216.2
244.6
313.3
310.3
301.0
281.6
290.7
310.1
326.3
322.1
314.8
359.3
311.0
308.4
303.6
420.0
489.3
534.0
CDs and Time
Deposits
493.6
528.7
458.6
260.3
212.5
211.1
191.5
232.3
244.0
245.7
259.2
257.7
231.7
255.8
271.3
263.1
279.1
283.6
229.6
265.8
256.6
222.9
242.6
227.3
230.1
244.0
240.4
246.2
262.8
263.0
245.8
289.4
298.0
282.8
298.7
302.6
321.8
320.3
333.0
316.0
332.7
346.1
307.9
369.1
360.8
281.8
290.0
275.5
252.7
Financial Co. CP
192.0
179.3
141.5
86.1
86.7
86.1
78.7
86.9
94.7
100.7
103.0
103.1
101.6
103.9
118.8
115.3
119.3
126.7
125.7
141.6
143.6
132.0
142.4
146.7
143.2
153.1
150.5
153.7
156.7
156.4
149.1
160.7
167.8
186.9
192.1
197.0
205.1
216.6
213.5
226.7
236.4
236.5
214.0
226.9
209.9
190.3
180.4
171.6
174.0
Non-Financial Co.
CP and Other
188.4
177.2
159.0
129.1
106.5
112.7
104.5
104.0
104.0
93.2
101.8
94.6
83.5
88.5
92.3
93.9
95.2
95.7
98.8
97.7
104.0
99.0
97.6
104.6
95.3
109.1
104.4
109.6
107.4
106.6
99.9
99.4
109.3
130.1
140.9
145.4
147.7
149.0
140.2
142.0
150.0
158.0
146.7
153.9
162.9
152.1
149.4
157.7
149.0
Asset-Backed
82.3
70.8
50.5
32.2
31.2
32.6
32.5
31.3
31.9
31.5
34.3
34.9
38.0
37.7
41.2
38.1
38.9
40.2
41.4
42.0
40.2
39.9
38.0
41.7
41.9
44.4
45.8
47.5
46.8
51.9
55.2
58.3
59.1
58.0
59.5
62.0
62.7
63.9
63.8
63.5
62.9
64.0
62.3
60.3
64.4
53.6
55.7
62.1
62.6
Total
1,272.2
1,232.8
1,029.7
730.6
562.8
567.7
545.3
560.4
583.7
594.0
603.8
610.4
609.5
622.4
641.2
660.6
669.8
678.3
658.0
667.9
668.1
655.7
684.1
682.2
669.4
707.0
730.4
743.7
746.1
768.2
762.8
824.0
878.8
971.1
1,001.5
1,008.0
1,018.9
1,040.5
1,060.6
1,074.5
1,104.1
1,119.4
1,090.2
1,121.2
1,106.4
981.4
1,095.5
1,156.2
1,172.3
Page 30 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Table A12: Government & Treasury Funds Bank Repo
Counterparties by Country ($ Billions)
Month
2016-06
2016-07
2016-08
2016-09
2016-10
2016-11
2016-12
2017-01
2017-02
2017-03
2017-04
2017-05
2017-06
2017-07
2017-08
2017-09
2017-10
2017-11
2017-12
2018-01
2018-02
2018-03
2018-04
2018-05
2018-06
2018-07
2018-08
2018-09
2018-10
2018-11
2018-12
2019-01
2019-02
2019-03
2019-04
2019-05
2019-06
2019-07
2019-08
2019-09
2019-10
2019-11
2019-12
2020-01
2020-02
2020-03
2020-04
2020-05
2020-06
US
88.3
93.6
106.0
112.6
132.1
128.8
104.2
130.5
131.6
116.9
137.3
133.5
114.1
130.4
137.8
118.2
127.6
135.6
127.8
145.4
143.1
126.1
156.3
154.6
153.8
152.2
143.5
149.2
142.8
141.9
172.2
174.7
174.5
191.6
194.5
202.4
209.5
221.8
218.1
237.3
183.1
181.3
165.6
191.3
210.7
200.3
201.4
177.4
172.1
Canada
72.4
63.3
75.8
75.1
67.7
90.4
92.4
87.7
97.7
103.2
107.5
116.0
113.3
103.3
113.7
119.6
115.1
125.5
148.8
128.3
124.8
130.7
118.5
127.4
144.2
126.4
124.6
140.2
122.6
147.9
165.8
145.0
154.9
165.7
140.4
145.6
164.0
130.2
162.5
167.0
146.4
170.3
196.2
168.7
166.5
186.1
153.9
139.7
131.4
France
71.2
148.4
173.6
99.4
180.9
167.1
77.7
184.0
187.1
115.0
193.5
189.5
125.4
200.0
219.8
165.4
242.0
245.9
111.7
219.6
222.2
181.2
236.5
255.8
193.3
244.6
230.8
185.4
223.5
208.9
133.1
224.6
218.9
172.3
217.5
223.6
180.0
232.5
239.3
196.7
235.7
202.1
125.6
197.6
213.7
181.1
217.1
190.6
146.1
UK
24.2
37.4
41.9
53.1
49.2
44.5
26.1
50.6
47.2
34.4
62.1
73.4
63.5
74.5
75.5
55.8
81.7
84.1
76.2
95.4
101.8
100.6
108.9
104.0
86.1
95.9
104.7
93.1
97.2
96.9
89.4
102.1
98.8
89.4
99.9
100.9
98.3
115.4
116.5
88.5
73.4
82.2
75.4
102.3
121.2
96.2
117.5
78.2
67.6
Germany
9.8
15.5
20.0
15.2
35.7
27.9
10.2
23.4
22.6
13.6
19.4
20.1
15.2
21.8
17.6
18.9
21.2
28.5
26.7
36.9
24.8
15.3
17.1
20.5
10.8
26.0
23.2
18.3
24.3
25.2
15.3
20.8
19.7
23.1
18.2
19.6
18.7
19.3
20.9
22.2
20.3
21.5
11.8
23.3
24.5
25.4
31.4
29.8
22.4
Japan
24.5
34.7
37.8
54.0
66.1
75.9
66.7
77.6
81.0
82.7
94.7
98.9
97.7
103.2
112.4
99.5
105.8
109.1
115.0
115.4
120.5
104.2
120.4
115.8
126.2
136.4
139.0
135.1
136.1
134.7
135.1
141.2
134.0
123.8
134.7
139.0
130.7
138.2
144.0
136.4
149.3
159.8
138.6
153.1
151.7
147.0
159.8
142.3
118.5
Other
13.1
32.0
38.4
20.0
40.7
38.1
16.4
38.5
29.3
22.3
39.7
37.8
28.1
41.1
50.1
36.6
51.1
56.5
28.4
55.2
54.4
35.8
45.3
48.1
33.7
52.9
50.5
36.7
50.1
44.6
38.1
44.5
44.4
29.4
41.8
37.9
32.2
37.9
35.8
36.6
41.0
36.1
33.9
40.7
41.6
45.5
42.9
40.0
36.5
Page 31 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Table A13: Money Market Fund Repurchase Agreements
with the Federal Reserve ($ Billions)
Month
2016-06
2016-07
2016-08
2016-09
2016-10
2016-11
2016-12
2017-01
2017-02
2017-03
2017-04
2017-05
2017-06
2017-07
2017-08
2017-09
2017-10
2017-11
2017-12
2018-01
2018-02
2018-03
2018-04
2018-05
2018-06
2018-07
2018-08
2018-09
2018-10
2018-11
2018-12
2019-01
2019-02
2019-03
2019-04
2019-05
2019-06
2019-07
2019-08
2019-09
2019-10
2019-11
2019-12
2020-01
2020-02
2020-03
2020-04
2020-05
2020-06
Total
242.800
85.000
149.900
384.300
198.100
177.300
403.400
165.200
194.000
328.800
174.300
244.100
365.100
189.700
204.100
298.500
164.400
96.200
288.100
55.100
30.900
22.600
13.700
21.500
88.800
9.000
0.400
44.900
4.800
2.500
39.600
1.000
3.400
0.700
0.000
0.900
43.600
7.400
12.100
7.100
2.800
0.500
47.400
4.500
2.200
284.900
1.800
1.300
1.000
Page 32 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
Table A14: Securities with more than 179 Days to Maturity
(Percent)
Prime
Prime
Month (Pre-Oct. 2016) Institutional
2016-06
3.6
2016-07
3.5
2016-08
3.0
2016-09
3.6
2016-10
6.3
2016-11
5.7
2016-12
6.8
2017-01
7.2
2017-02
6.9
2017-03
9.2
2017-04
8.6
2017-05
9.0
2017-06
9.2
2017-07
10.2
2017-08
9.1
2017-09
9.1
2017-10
10.1
2017-11
10.3
2017-12
8.7
2018-01
8.3
2018-02
7.2
2018-03
6.9
2018-04
6.4
2018-05
6.5
2018-06
7.4
2018-07
8.2
2018-08
9.2
2018-09
9.0
2018-10
8.1
2018-11
8.4
2018-12
7.9
2019-01
9.0
2019-02
8.1
2019-03
7.3
2019-04
8.2
2019-05
9.0
2019-06
8.6
2019-07
9.5
2019-08
9.8
2019-09
9.5
2019-10
11.0
2019-11
10.0
2019-12
9.8
2020-01
10.1
2020-02
10.3
2020-03
9.1
2020-04
6.9
2020-05
6.1
2020-06
6.9
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
10.9
10.8
8.8
7.7
5.7
4.8
3.1
5.1
Tax Exempt
Tax Exempt Tax Exempt
(Pre-Oct. 2016) Institutional
Retail
Government Treasury
4.9
19.1
17.3
5.5
19.6
17.8
6.4
18.6
16.5
6.0
17.2
17.4
3.2
6.0
17.1
18.6
3.9
6.5
17.5
16.5
3.4
6.0
18.2
18.0
1.7
3.9
19.0
18.9
1.9
3.4
18.0
17.2
1.6
3.3
17.9
17.7
1.5
2.9
16.7
17.8
1.0
2.6
16.3
14.7
1.2
3.6
16.5
15.8
1.1
4.1
15.7
15.9
1.5
5.6
15.0
13.3
1.7
5.5
13.8
15.1
1.8
5.3
13.7
15.2
2.4
6.1
15.6
13.1
3.1
5.8
15.9
13.7
2.0
4.4
16.6
15.3
2.0
4.1
16.2
12.8
0.9
2.9
15.8
14.1
0.6
2.8
15.0
14.3
0.5
3.0
14.1
13.9
0.4
3.4
15.3
15.1
0.7
4.0
15.7
15.7
0.6
4.7
15.5
15.0
1.1
6.6
14.3
14.6
2.0
7.2
15.2
15.9
2.1
7.1
15.2
14.4
1.9
5.0
15.5
15.3
1.9
5.0
15.5
16.9
1.9
4.8
15.3
14.5
0.7
2.9
16.0
15.2
0.8
2.8
16.6
17.7
1.0
3.1
17.8
14.7
0.9
5.3
18.0
16.1
0.9
6.1
18.0
17.9
1.5
7.9
17.9
15.5
2.2
8.7
17.7
15.8
3.4
10.0
18.8
17.6
2.9
9.7
17.5
14.5
2.4
7.0
17.7
17.3
2.2
6.0
18.4
18.6
2.3
5.9
18.1
17.2
0.6
4.9
18.9
15.8
0.9
4.1
17.6
14.9
1.4
4.2
16.4
13.7
2.4
5.9
16.1
14.5
Page 33 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
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.
Page 34 of 35
U.S. Securities and Exchange Commission, Money Market Funds Statistics, Filings through July 8, 2020
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 assetbacked commercial paper.3
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.4
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.
3
See Money Market Fund Reform; Amendments to Form PF, Investment Company Act Release No. 31166 (July 23,
2014), available here.
4
Id.
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