SEC adopts new rules governing money market funds Marketwatch.com
Taxable money market funds must keep at least 10% of assets in cash, Treasury securities or other securities that can be converted to cash within a day.
All money market funds, in addition, must keep at least 30% of assets in cash, Treasurys or government securities maturing in 60 days or less that can be converted to cash within a week.
Moreover, money market funds now can keep only 5% of assets in illiquid securities, down from 10%. "Illiquid" means any security that cannot be sold or unloaded with seven days at carrying value.
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