BUSINESS BRIEFING / FINANCIAL CRISIS
Times Wire Reports
The Federal Reserve will allow more companies to take part in a program aimed at bolstering the money market mutual fund industry.
Newly eligible participants now include a range of money market investors, rather than just money market funds, the Fed said.
Under the Money Market Investor Funding Facility, the Fed backs purchases of short-term debt, including certificates of deposit and commercial paper that expire in three months or less, from money market mutual funds.
