Bloomberg News

U.S. Money Fund Exposure to Europe Banks Falls 14%, Fitch Says

October 20, 2011

Oct. 20 (Bloomberg) -- U.S. prime money market funds have reduced their total exposure to European banks by 14 percent on a dollar basis as of end of September, compared with end of August, according to Fitch Ratings.

European bank exposure now represents 38 percent of total holdings of $654 billion within Fitch’s sample of the 10 largest U.S. prime MMFs, Fitch said.

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To contact the reporter on this story: Maria Ermakova in London at mermakova@bloomberg.net

To contact the editor responsible for this story: Peter Branton at pbranton@bloomberg.net


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