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What has happened to the U.S. Treasury Temporary Guarantee Program for Money Market Funds?

April 26, 2017funds guarantee happened Money Market program sipc Temporary Treasury

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What has happened to the U.S. Treasury Temporary Guarantee Program for Money Market Funds?

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A. As planned, the program expired on September 18, 2009. Fidelity’s general purpose and tax-exempt money market funds had participated in the program since its inception in September 2008. However, Fidelity’s money market funds that invest primarily in U.S. Government and Treasury securities had not participated in the program since April 30, 2009. Under the temporary program, the U.S. Treasury guaranteed the share price of any publicly offered eligible money market mutual fund that applied for and paid a fee to participate in the program. Throughout its duration, the coverage applied only to investments held in participating money market funds as of the close of business on September 19, 2008.