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Stock impact report

America's money market industry: is it at risk? [Yahoo! Finance News]

Federated Hermes, Inc. (FHI) 
Last federated hermes, inc. earnings: 4/30 04:17 pm Check Earnings Report
By David Randall and Megan Davies NEW YORK Reuters) - Seen as a quintessentially safe bet for many Americans, the $3.8 trillion money-market fund industry is under severe duress for a second time in the past decade as investors weigh the risk of a global economic shutdown. U.S. Treasury Secretary Stephen Mnuchin said the money market industry is "critical to Americans". The U.S. Federal Reserve on Wednesday night rolled out its third emergency credit program in two days, announcing it would make loans to banks that offer as collateral assets purchased from money-market mutual funds. The Fed is dusting off the playbook it used during the 2007-2008 financial crisis, when it took the unprecedented step of backstopping the money fund industry. The Fed's moves should help alleviate concerns for some of the riskier funds. Here is how the industry is set up and where the riskier corners lie: What is a money market fund? Many see the money-market fund as the safest thing outside a bank deposi Show less Read more
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