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Stock Market & Financial Investment News

News Breaks
February 12, 2013
14:29 EDTTROW, FII, BENFederal Reserve presidents support money market mutual fund reform in letter
The presidents of the twelve Federal Reserve Banks have submitted a joint letter responding to the Financial Stability Oversight Council's proposal on money market mutual fund reform, according to an announcement posted to the site of the Federal Reserve Bank of Boston. The twelve Reserve Bank presidents support the Council's efforts to address the structural vulnerabilities of MMFs. They also agree with the Council's determination that MMFs' activities and practices could create or increase the risk of liquidity and credit problems spreading through the financial system. In the letter, the Reserve Bank presidents discuss the risks associated with MMF activities and practices, focus on issues that should be addressed as part of any reform proposal, such as enhancing the accuracy of market-based net asset values, present observations on each of the three reform alternatives in the Council’s proposal, discuss why standby liquidity fees and temporary redemption gates would not address financial stability risks, and concur with the Council that more than one alternative could address the financial stability concerns posed by MMFs – for example, fund sponsors could be permitted to offer both a floating NAV fund and separately a stable NAV fund with a capital buffer or a buffer coupled with a Minimum Balance at Risk. The Fly notes that Federated Investors (FII) CEO Christopher Donahue has been an outspoken opponent of an effort to impose new regulations on the industry. Reference Link
News For FII;TROW;BEN From The Last 14 Days
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April 17, 2015
08:31 EDTFIIFederated Investors agrees to transition assets from Reich & Tang funds
Federated Investors announced that they have reached a definitive agreement for Federated to transition shareholder assets from Reich & Tang's money market funds. In connection with the transition, approximately $7B in shareholder accounts from six Reich & Tang money market funds will be transitioned into Federated strategies.The transaction is designed to assist with the orderly liquidation of Reich & Tang's domestic and offshore money market funds. The agreement provides for Federated, Reich & Tang, financial intermediaries and shareholders to work together on a coordinated and cooperative basis to transition the assets in shareholder accounts from the Reich & Tang money market funds to comparable Federated money market funds. Federated is now working with Reich & Tang customers on the transition, which is expected to take place in stages beginning in June and running through July 2015. The transaction and related transition of assets are subject to certain customary approvals and contingencies, such as shareholder consents.
April 9, 2015
16:32 EDTBENFranklin Resources reports AUM $880.6M at March 31
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07:35 EDTFIIFitch Ratings to hold a webcast
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April 8, 2015
06:29 EDTFIINew players entering repo market, WSJ says
Investors and small firms are filling a vacancy left by banks in the repo market, providing short-term loans to REITs and other borrowers, according to The Wall Street Journal. Invesco Mortgage Capital (IVR) and Invesco LTD (IVZ) are among the companies using these new funding sources, while Federated Investors (FII) has been discussing establishing new trading relationships with large securities holders such as insurance companies, the newspaper stated. Reference Link
April 6, 2015
10:09 EDTTROWHigh option volume stocks
High option volume stocks: DBA DLPH OUTR PNK TROW SLCA MTB EMR MTG IVZ

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