Robert Grossman News
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Credit Suisse Group AG, Bank of America Corp. and JPMorgan Chase & Co. lead borrowers tapping the largest prime money-market funds through repurchase agreements that finance about $20 billion of securitized debt, according to Fitch Ratings.
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U.S. prime money-market funds, which offer short-term lending to corporations and banks, have reduced their lending to European banks as the region’s sovereign debt crisis mounts.
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Risks may rise in the U.S. market for borrowing and lending securities if tougher global bank regulation increases some types of trading of repurchase agreements, according to Fitch Ratings.
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U.S. prime money-market funds increased their investment in European bank debt, focusing on the safest assets amid the euro-area’s debt crisis, according to Fitch Ratings.
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European banks dominated a list of top issuers to U.S. prime money-market funds, accounting for 44 percent of assets, according to a report by Fitch Ratings.
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U.S. prime money-market funds cut holdings of European bank debt to the lowest since at least 2006 amid the region’s sovereign crisis, according to Fitch Ratings.
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Money-market funds in the U.S. cut short-term holdings of European bank debt last month to the lowest levels ever recorded by Fitch Ratings.
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The top U.S. prime money-market mutual funds cut their assets invested in securities issued by European banks last month to the lowest level since 2008 as the region’s debt crisis got worse, according to Fitch Ratings.
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