Fund | Us Money Market

Several authoritative papers and reports analyze the $7.64 trillion U.S. money market fund (MMF) industry, focusing on its structural vulnerabilities, historical runs, and recent regulatory reforms. Key Reports and Research Papers

This note explores the complex relationship between MMF inflows and bank deposit outflows during monetary tightening cycles. Market Characteristics and Trends Release: Money Market Fund Assets

This paper examines how MMFs, particularly prime funds that invest in private-debt instruments like commercial paper , are susceptible to liquidity-driven runs during financial stress.

A staff analysis that details the industry's growth from $2.2 trillion to over $6.2 trillion. It highlights that government MMFs now dominate the market, while prime and tax-exempt funds have declined by 30% due to regulatory pressure.

This review covers the 2023 SEC amendments that removed redemption gates but increased minimum liquidity requirements and introduced mandatory fees for institutional prime funds to prevent "first-mover advantage" during runs.