Fed Expands Money Fund Program to Include Municipal Funds

Today, (March 20, 2020) the Federal Reserve announced that they would expand the recently initiated Money Market Mutual Fund Liquidity Facility to include municipal funds.

Following support of the BDA and the Public Finance Network, this expansion to its emergency program is aimed to further provide liquidity to money market mutual funds by providing dealer financing for the purchase of assets from tax-exempt money market mutual funds for municipals with 12 months or less to maturity.

The notice from the Federal Reserve can be viewed here.

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