Government Statement on Citigroup and Treasury Extends Money Market Fund Guarantee
The Treasury Department, Federal Reserve and the FDIC released a joint statement today on the government's agreement to provide guarantees with respect to an asset pool owned by Citigroup consisting of residential and commercial mortgage loans and mortgaged-backed securities. Click here to read the joint statement.
In other news, the Treasury Department extended the Temporary Guarantee Program for Money Market Funds until April 30, 2009. The guarantee protects shareholders in participating money market funds for the amounts held as of the close of business on September 19, 2008. However, funds must both file for an extension and pay an extension fee by December 5, 2008. Click here for the details.
