18.02.2014 17:06:00

Moody's: MMF exposure to European banks hits 12-month low at the end of 2013

London, 18 February 2014 -- US money market funds (MMFs) have reduced their exposure to European financial institutions by 18% in December 2013, while Euro and Sterling MMFs reduced their exposures by 8% and 6% respectively, says Moody's Investors Service in a series of three new quarterly MMF reports published today. Due to year-end redemptions, European funds' combined AUM dropped by 6.5% over Q4, and their maturity profiles shortened significantly, by 7 days on average.

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