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2 posts on "mutual fund"
May 8, 2020

The Money Market Mutual Fund Liquidity Facility

Marco Cipriani, Gabriele La Spada, Reed Orchinik, and Aaron Plesset

To prevent outflows from prime and muni funds from turning into an industry-wide run after the COVID-19 outbreak, the Federal Reserve established Money Market Mutual Fund Liquidity Facility. This post looks at the Fed’s intervention, its goals, and the direct and indirect market effects.

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Posted at 7:00 am in Central Bank, COVID-19 Facilities, Credit, Federal Reserve, Financial Institutions, Financial Intermediation, Financial Markets, Liquidity, Monetary Policy, Pandemic | Permalink
February 18, 2016

Are Asset Managers Vulnerable to Fire Sales?

Nicola Cetorelli, Fernando M. Duarte, and Thomas M. Eisenbach

According to conventional wisdom, an open-ended investment fund that has a floating net asset value (NAV) and no leverage will never experience a run and hence never have to fire-sell assets.

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Posted at 7:00 am in Corporate Finance, Financial Institutions, Fire Sale, Systemic Risk | Permalink | Comments (5)

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