Page | 1 of 33 

Money Market Fund Statistics

Form N-MFP Data, period ending October 31, 2019

Division of Investment Management

Analytics Office

This is a report of the Staff of the Division of Investment Management’s Analytics Office of the U.S. 

Securities and Exchange Commission. The Commission has expressed no view regarding the 

analysis, findings, or conclusions contained herein.

Information presented in this report reflects staff’s compilation and analysis of data reported to the Commission on 

Form N-MFP for the reference period. The presented information does not reflect any filings or amended filings 

submitted after the data cut-off date of this report. Staff works with information reported on Form N-MFP and with 

filers to correct possible reporting errors and may update reported information to correct what appear to be clear 

filer errors. Corrected data from amended filings may be published in a corrected report or in the next regular report, 

as determined by staff.

If you have any questions or comments about this report, please contact Sharon Pichler or Isaac Kuznits, Analytics 

Office, Division of Investment Management, at Form-NMFP@sec.gov, with the subject line “Money Market Fund 

Statistics.”
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 2 of 33 

Monthly Change in Key Statistics and Table of Contents*

TOPIC 10/31/2019 Change 9/30/2019 Page

Number of Money Market Funds Reporting (Not Including Feeder Funds) 4

Prime 

 Institutional 47 - 47

 Retail 33 - 33

Tax Exempt 

 Institutional 14 - 14

 Retail 67 - 67

Government & Treasury Funds

Government 152 3 149

 Treasury 59 - 59

Assets (in billions) Prime Funds 5

 Institutional $656.0 $24.7 $631.3

 Retail $445.5 $13.7 $431.8

Tax Exempt Funds

 Institutional $15.4 $0.7 $14.7

 Retail $127.2 $2.9 $124.3

Government & Treasury Funds

 Government $1,858.5 $40.1 $1,818.4

 Treasury $835.5 $6.5 $829.0

7-Day Yields Gross Prime Funds 6

 Institutional 1.99% -0.13% 2.13%

 Retail 2.06% -0.12% 2.18%

Tax Exempt Funds

 Institutional 1.22% -0.36% 1.58%

 Retail 1.26% -0.30% 1.56%

Government & Treasury Funds

 Government 1.89% -0.14% 2.03%

 Treasury 1.86% -0.17% 2.03%

7-Day Yields Net Prime Funds 7

 Institutional 1.90% -0.15% 2.05%

 Retail 1.80% -0.12% 1.92%

Tax Exempt Funds

 Institutional 1.10% -0.36% 1.45%

 Retail 0.98% -0.31% 1.28%

Government & Treasury Funds

 Government 1.62% -0.13% 1.76%

 Treasury 1.64% -0.17% 1.80%

Weighted Average Life (WAL) Prime Funds 8

 Institutional 65.7 days 3.6 days 62.1 days 

 Retail 76.7 days 3.9 days 72.8 days 

Tax Exempt Funds

 Institutional 19.5 days 3.3 days 16.2 days 

 Retail 41.7 days 3.3 days 38.5 days 

Government & Treasury Funds

 Government 97.7 days -0.4 days 98.1 days 

 Treasury 98.7 days 3.5 days 95.2 days 
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 3 of 33 

Monthly Change in Key Statistics and Table of Contents (continued)

TOPIC 10/31/2019 Change 9/30/2019 Page

Weighted Average Maturity (WAM) Prime Funds 9

 Institutional 34.1 days 3.2 days 31.0 days

 Retail 43.5 days 2.8 days 40.7 days

Tax Exempt Funds

 Institutional 19.1 days 3.1 days 15.9 days

 Retail 39.2 days 3.3 days 35.9 days

Government & Treasury Funds

 Government 31.8 days 2.0 days 29.8 days

 Treasury 40.9 days 4.1 days 36.9 days

Daily Liquidity Prime Funds 10

 Institutional 37.7% 0.1% 37.6%

 Retail 25.1% -0.3% 25.5%

Government & Treasury Funds

 Government 47.0% 0.4% 46.6%

 Treasury 91.9% 0.6% 91.3%

Weekly Liquidity Prime Funds 11

 Institutional 52.5% -1.3% 53.8%

 Retail 39.2% -2.7% 41.9%

Tax Exempt Funds

 Institutional 87.5% 2.7% 84.8%

 Retail 73.2% -1.1% 74.3%

Government & Treasury Funds

 Government 70.5% -1.5% 71.9%

 Treasury 98.6% 0.5% 98.2%

Prime Funds' Bank Holdings By Country 12

By Geographic Region 13

Prime Funds' Portfolio Composition 14

Gov't and Treasury Funds Bank Repo By Country 15

All Funds Fed Repo (in billions) $2.8 -$4.2 $7.1 16

Securities > 179 Days to Maturity Prime Funds 17

 Institutional 11.0% 1.5% 9.5%

 Retail 11.3% 2.1% 9.2%

Tax Exempt Funds

 Institutional 3.4% 1.2% 2.2%

 Retail 10.0% 1.3% 8.7%

Government & Treasury Funds

 Government 18.8% 1.1% 17.7%

 Treasury 17.6% 1.8% 15.8%

*Some calculations in the change column in the above Table of Contents and in other tables in this report may not total 

as expected due to rounding. Terms used in this report are defined in Appendix 2, Key Definitions. 
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 4 of 33 

* Note: Beginning in October 2016, Form N-MFP required prime and tax-exempt money market funds to identify 

themselves as institutional or retail funds; up to that date, Funds reported without making this distinction. Government 

and Treasury funds are not required to distinguish between retail and institutional. See Appendix 2, Key Definitions.

0

50

100

150

200

250

Trend in Number of Money Market Funds

Prime (Pre-Oct 2016) Prime Institutional Prime Retail Muni (Pre-Oct 2016)

Muni Institutional Muni Retail Government Treasury
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 5 of 33 

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

Millions

Net Assets of Money Market Funds

Prime (Pre-Oct 2016) Prime Institutional Prime Retail Muni (Pre-Oct 2016)

Muni Institutional Muni Retail Government Treasury
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 6 of 33 

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

Weighted Average 7-Day Gross Yields

Prime (Pre-Oct 2016) Prime Institutional Prime Retail Muni (Pre-Oct 2016)

Muni Institutional Muni Retail Government Treasury
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 7 of 33 

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

Weighted Average 7-Day Net Yields

Prime (Pre-Oct 2016) Prime Institutional Prime Retail Muni (Pre-Oct 2016)

Muni Institutional Muni Retail Government Treasury
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 8 of 33 

0

20

40

60

80

100

120

Weighted Average Life

Prime (Pre-Oct 2016) Prime Institutional Prime Retail Muni (Pre-Oct 2016)

Muni Institutional Muni Retail Government Treasury
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 9 of 33 

0

5

10

15

20

25

30

35

40

45

50

Weighted Average Maturity

Prime (Pre-Oct 2016) Prime Institutional Prime Retail Muni (Pre-Oct 2016)

Muni Institutional Muni Retail Government Treasury
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 10 of 33 

As municipal funds do not have a daily liquidity requirement, their daily liquidity statistics are not included here.

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Daily Liquid Assets

Prime (Pre-Oct 2016) Prime Institutional Prime Retail Government Treasury
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 11 of 33 

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Weekly Liquid Assets

Prime (Pre-Oct 2016) Prime Institutional Prime Retail Muni (Pre-Oct 2016)

Muni Institutional Muni Retail Government Treasury
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 12 of 33 

Bank-related securities include Certificates of Deposit, Time Deposits, sponsored ABCP, and repurchase agreements 

where the bank is the counterparty.

$0

$50,000

$100,000

$150,000

$200,000

$250,000

Millions

Prime MMFs Bank-Related Securities by Country

US PrimeAust/NZ Canada France Germany

Japan Netherlands Switzerland UK
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 13 of 33 

Eurozone is a subset of Europe and Eurozone values are also included in totals for Europe.

Bank-related securities include Certificates of Deposit, Time Deposits, sponsored ABCP, and repurchase agreements 

where the bank is the counterparty.

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

Millions

Prime MMFs Bank-Related Securities by Major Region

Europe Eurozone Americas Asia/Pacific
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 14 of 33 

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

Millions

Prime MMFs Portfolio Composition

Asset-Backed CDs and Time Deposits Financial Co. CP

Gov& Treas (Direct & Repo) Non-Financial Co. CP & Other
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 15 of 33 

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

Millions

Government and Treasury MMFs Repo by Country of 

Counterparty

US Canada France Germany Japan UK Other
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 16 of 33 

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

Millions

All Funds Repo with the Federal Reserve
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 17 of 33 

0%

5%

10%

15%

20%

25%

Percent of Securities > 179 Days to Maturity

Prime (Pre-Oct 2016) Prime Institutional Prime Retail Muni (Pre-Oct 2016)

Muni Institutional Muni Retail Government Treasury
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 18 of 33 

Appendix 1 – Supporting Data

A. Number of Funds

Prime

(Pre-Oct 2016)

Prime

Institutional

Prime

Retail

Muni

(Pre-Oct 2016)

Muni

Institutional

Muni

Retail Government Treasury Total

10/31/2015 221 . . 150 . . 82 65 518

11/30/2015 218 . . 149 . . 84 65 516

12/31/2015 207 . . 147 . . 86 62 502

1/31/2016 206 . . 143 . . 86 62 497

2/29/2016 203 . . 142 . . 89 62 496

3/31/2016 193 . . 143 . . 91 63 490

4/30/2016 163 . . 131 . . 117 62 473

5/31/2016 145 . . 128 . . 131 62 466

6/30/2016 143 . . 127 . . 132 62 464

7/31/2016 140 . . 119 . . 132 62 453

8/31/2016 132 . . 112 . . 137 62 443

9/30/2016 115 . . 109 . . 148 61 433

10/31/2016 . 68 29 . 17 87 159 60 420

11/30/2016 . 57 37 . 11 91 159 60 415

12/31/2016 . 56 37 . 11 91 159 59 413

1/31/2017 . 56 37 . 11 90 158 59 411

2/28/2017 . 56 37 . 11 90 158 59 411

3/31/2017 . 56 37 . 11 89 159 59 411

4/30/2017 . 57 37 . 11 89 159 59 412

5/31/2017 . 56 37 . 11 89 159 59 411

6/30/2017 . 56 36 . 11 89 159 59 410

7/31/2017 . 56 36 . 11 85 159 59 406

8/31/2017 . 56 36 . 11 85 159 59 406

9/30/2017 . 56 36 . 11 85 159 59 406

10/31/2017 . 56 36 . 11 80 157 59 399

11/30/2017 . 48 36 . 11 72 156 59 382

12/31/2017 . 46 36 . 11 72 154 60 379

1/31/2018 . 46 36 . 12 72 154 60 380

2/28/2018 . 46 36 . 11 72 154 60 379

3/31/2018 . 46 35 . 12 72 154 60 379

4/30/2018 . 46 35 . 12 72 154 62 381

5/31/2018 . 46 35 . 12 72 154 62 381

6/30/2018 . 46 34 . 12 72 155 62 381

7/31/2018 . 46 34 . 12 72 156 62 382

8/31/2018 . 46 34 . 12 72 157 62 383

9/30/2018 . 47 34 . 12 72 156 62 383

10/31/2018 . 46 34 . 14 70 155 62 381

11/30/2018 . 46 33 . 14 70 154 62 379

12/31/2018 . 45 33 . 14 67 151 60 370

1/31/2019 . 45 33 . 14 67 151 59 369

2/28/2019 . 46 33 . 14 67 151 59 370

3/31/2019 . 46 33 . 14 67 151 59 370

4/30/2019 . 46 34 . 14 67 150 59 370

5/31/2019 . 47 33 . 14 67 150 59 370

6/30/2019 . 47 33 . 14 67 150 59 370

7/31/2019 . 47 33 . 14 67 150 59 370

8/31/2019 . 47 33 . 14 67 150 59 370

9/30/2019 . 47 33 . 14 67 149 59 369

10/31/2019 . 47 33 . 14 67 152 59 372
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 19 of 33 

B. Net Assets ofMoney Market Funds by Category (Millions)

Prime

(Pre-Oct 2016)

Prime

Institutional

Prime

Retail

Muni

(Pre-Oct 2016)

Muni

Institutional

Muni

Retail Government Treasury Total

10/31/2015 $1,790,928 . . $253,986 . . $528,216 $512,879 $3,086,010 

11/30/2015 $1,723,586 . . $255,994 . . $580,257 $519,551 $3,079,388 

12/31/2015 $1,572,045 . . $263,850 . . $715,020 $534,522 $3,085,437 

1/31/2016 $1,565,516 . . $255,942 . . $716,457 $525,959 $3,063,874 

2/29/2016 $1,586,685 . . $248,437 . . $739,871 $547,500 $3,122,493 

3/31/2016 $1,518,186 . . $239,917 . . $755,204 $559,095 $3,072,401 

4/30/2016 $1,470,199 . . $223,440 . . $794,616 $544,852 $3,033,109 

5/31/2016 $1,403,324 . . $217,892 . . $836,290 $555,703 $3,013,209 

6/30/2016 $1,278,835 . . $201,606 . . $940,144 $571,887 $2,992,473 

7/31/2016 $1,234,360 . . $190,302 . . $1,005,481 $583,593 $3,013,735 

8/31/2016 $1,033,094 . . $159,116 . . $1,192,805 $608,304 $2,993,318 

9/30/2016 $739,867 . . $135,611 . . $1,424,270 $645,052 $2,944,800 

10/31/2016 . $327,605 $234,775 . $11,733 $123,240 $1,572,829 $644,630 $2,914,812 

11/30/2016 . $315,478 $250,376 . $9,947 $125,354 $1,627,562 $646,148 $2,974,864 

12/31/2016 . $299,286 $251,070 . $8,515 $125,956 $1,622,252 $651,244 $2,958,323 

1/31/2017 . $312,992 $249,093 . $10,065 $125,290 $1,587,668 $632,071 $2,917,180 

2/28/2017 . $337,070 $249,900 . $9,301 $125,488 $1,583,710 $625,897 $2,931,366 

3/31/2017 . $345,626 $253,517 . $10,242 $125,135 $1,565,137 $630,006 $2,929,662 

4/30/2017 . $359,051 $249,867 . $10,286 $122,639 $1,552,328 $622,862 $2,917,033 

5/31/2017 . $362,334 $249,039 . $10,438 $123,434 $1,542,721 $632,849 $2,920,815 

6/30/2017 . $365,381 $249,974 . $10,279 $122,804 $1,522,224 $626,484 $2,897,146 

7/31/2017 . $373,600 $251,324 . $11,097 $124,256 $1,518,764 $637,985 $2,917,026 

8/31/2017 . $385,107 $256,627 . $10,512 $122,485 $1,553,166 $660,348 $2,988,245 

9/30/2017 . $404,603 $259,868 . $10,410 $121,617 $1,574,285 $663,665 $3,034,448 

10/31/2017 . $404,408 $261,077 . $10,788 $121,903 $1,570,491 $656,264 $3,024,931 

11/30/2017 . $415,780 $264,015 . $9,817 $123,081 $1,594,652 $672,906 $3,080,251 

12/31/2017 . $398,906 $267,267 . $8,471 $125,956 $1,623,763 $701,105 $3,125,468 

1/31/2018 . $409,131 $260,248 . $11,007 $130,606 $1,576,634 $693,592 $3,081,218 

2/28/2018 . $405,107 $261,506 . $11,045 $129,155 $1,611,143 $703,951 $3,121,907 

3/31/2018 . $403,237 $259,935 . $10,600 $126,517 $1,579,295 $694,141 $3,073,725 

4/30/2018 . $426,570 $258,738 . $11,209 $124,743 $1,600,249 $683,204 $3,104,714 

5/31/2018 . $424,669 $261,345 . $11,460 $131,305 $1,634,109 $687,449 $3,150,337 

6/30/2018 . $407,446 $269,693 . $11,275 $127,829 $1,586,774 $695,445 $3,098,461 

7/31/2018 . $418,773 $282,640 . $11,518 $122,974 $1,586,539 $691,247 $3,113,690 

8/31/2018 . $434,967 $297,585 . $11,685 $123,408 $1,581,319 $694,650 $3,143,613 

9/30/2018 . $442,811 $303,635 . $12,113 $123,056 $1,572,204 $701,872 $3,155,690 

10/31/2018 . $433,830 $309,501 . $12,028 $126,114 $1,578,537 $703,877 $3,163,887 

11/30/2018 . $449,337 $322,412 . $12,602 $130,641 $1,602,302 $735,903 $3,253,196 

12/31/2018 . $420,950 $343,235 . $12,441 $137,247 $1,634,001 $749,999 $3,297,873 

1/31/2019 . $458,035 $356,898 . $14,615 $131,201 $1,636,207 $732,337 $3,329,293 

2/28/2019 . $501,861 $371,005 . $15,028 $128,667 $1,659,312 $730,282 $3,406,155 

3/31/2019 . $591,448 $380,660 . $15,696 $129,323 $1,637,893 $738,992 $3,494,012 

4/30/2019 . $616,748 $383,203 . $13,853 $124,749 $1,628,964 $727,182 $3,494,698 

5/31/2019 . $616,085 $392,725 . $13,568 $127,081 $1,671,206 $752,200 $3,572,866 

6/30/2019 . $616,389 $402,025 . $14,649 $126,530 $1,689,382 $765,804 $3,614,779 

7/31/2019 . $626,601 $414,132 . $15,008 $125,881 $1,723,417 $785,311 $3,690,350 

8/31/2019 . $629,966 $421,395 . $15,840 $124,971 $1,776,086 $798,379 $3,766,638 

9/30/2019 . $631,292 $431,801 . $14,748 $124,320 $1,818,359 $829,012 $3,849,532 

10/31/2019 . $655,970 $445,511 . $15,391 $127,157 $1,858,528 $835,543 $3,938,100 
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 20 of 33 

C. Weighted Average 7-Day Gross Yield

Prime

(Pre-Oct 2016)

Prime

Institutional

Prime

Retail

Muni

(Pre-Oct 2016)

Muni

Institutional

Muni

Retail Government Treasury

10/31/2015 0.26% . . 0.07% . . 0.15% 0.09%

11/30/2015 0.27% . . 0.06% . . 0.16% 0.13%

12/31/2015 0.41% . . 0.07% . . 0.29% 0.25%

1/31/2016 0.49% . . 0.07% . . 0.35% 0.31%

2/29/2016 0.53% . . 0.08% . . 0.38% 0.35%

3/31/2016 0.55% . . 0.33% . . 0.40% 0.37%

4/30/2016 0.55% . . 0.41% . . 0.41% 0.35%

5/31/2016 0.55% . . 0.42% . . 0.41% 0.37%

6/30/2016 0.57% . . 0.46% . . 0.45% 0.39%

7/31/2016 0.55% . . 0.47% . . 0.43% 0.38%

8/31/2016 0.57% . . 0.60% . . 0.43% 0.38%

9/30/2016 0.63% . . 0.81% . . 0.44% 0.37%

10/31/2016 . 0.63% 0.80% . 0.63% 0.70% 0.44% 0.39%

11/30/2016 . 0.63% 0.81% . 0.59% 0.62% 0.44% 0.42%

12/31/2016 . 0.79% 0.93% . 0.76% 0.77% 0.58% 0.53%

1/31/2017 . 0.84% 0.98% . 0.69% 0.72% 0.61% 0.56%

2/28/2017 . 0.84% 0.99% . 0.67% 0.71% 0.62% 0.58%

3/31/2017 . 0.98% 1.08% . 0.86% 0.87% 0.76% 0.74%

4/30/2017 . 1.02% 1.14% . 0.92% 0.94% 0.80% 0.78%

5/31/2017 . 1.03% 1.15% . 0.81% 0.84% 0.85% 0.84%

6/30/2017 . 1.20% 1.26% . 0.91% 0.93% 1.01% 1.00%

7/31/2017 . 1.24% 1.30% . 0.84% 0.89% 1.05% 1.07%

8/31/2017 . 1.25% 1.31% . 0.83% 0.86% 1.07% 1.05%

9/30/2017 . 1.25% 1.31% . 0.94% 0.96% 1.08% 1.07%

10/31/2017 . 1.26% 1.33% . 0.95% 0.97% 1.10% 1.10%

11/30/2017 . 1.29% 1.36% . 0.98% 1.00% 1.14% 1.15%

12/31/2017 . 1.48% 1.56% . 1.61% 1.59% 1.33% 1.32%

1/31/2018 . 1.55% 1.61% . 1.14% 1.18% 1.38% 1.37%

2/28/2018 . 1.60% 1.68% . 1.14% 1.16% 1.44% 1.47%

3/31/2018 . 1.83% 1.89% . 1.48% 1.46% 1.69% 1.69%

4/30/2018 . 1.92% 2.01% . 1.72% 1.71% 1.75% 1.74%

5/31/2018 . 1.97% 2.08% . 1.16% 1.24% 1.80% 1.80%

6/30/2018 . 2.11% 2.21% . 1.53% 1.53% 1.95% 1.92%

7/31/2018 . 2.14% 2.22% . 1.08% 1.10% 1.97% 1.95%

8/31/2018 . 2.15% 2.24% . 1.57% 1.59% 2.01% 2.01%

9/30/2018 . 2.23% 2.30% . 1.59% 1.59% 2.11% 2.12%

10/31/2018 . 2.35% 2.39% . 1.64% 1.66% 2.22% 2.23%

11/30/2018 . 2.39% 2.48% . 1.74% 1.74% 2.28% 2.29%

12/31/2018 . 2.58% 2.62% . 1.75% 1.76% 2.45% 2.44%

1/31/2019 . 2.61% 2.67% . 1.41% 1.45% 2.45% 2.44%

2/28/2019 . 2.62% 2.66% . 1.76% 1.78% 2.47% 2.45%

3/31/2019 . 2.59% 2.65% . 1.53% 1.59% 2.49% 2.49%

4/30/2019 . 2.58% 2.63% . 2.23% 2.20% 2.49% 2.48%

5/31/2019 . 2.54% 2.58% . 1.58% 1.52% 2.45% 2.43%

6/30/2019 . 2.50% 2.55% . 1.88% 1.88% 2.43% 2.37%

7/31/2019 . 2.44% 2.47% . 1.47% 1.48% 2.39% 2.30%

8/31/2019 . 2.26% 2.30% . 1.42% 1.42% 2.18% 2.14%

9/30/2019 . 2.13% 2.18% . 1.58% 1.56% 2.03% 2.03%

10/31/2019 . 1.99% 2.06% . 1.22% 1.26% 1.89% 1.86%
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 21 of 33 

D. Weighted Average 7-Day Net Yield

Prime

(Pre-Oct 2016)

Prime

Institutional

Prime

Retail

Muni

(Pre-Oct 2016)

Muni

Institutional

Muni

Retail Government Treasury

10/31/2015 0.09% . . 0.01% . . 0.02% 0.00%

11/30/2015 0.11% . . 0.01% . . 0.02% 0.01%

12/31/2015 0.22% . . 0.01% . . 0.06% 0.06%

1/31/2016 0.29% . . 0.01% . . 0.09% 0.10%

2/29/2016 0.32% . . 0.01% . . 0.11% 0.13%

3/31/2016 0.33% . . 0.06% . . 0.13% 0.14%

4/30/2016 0.34% . . 0.09% . . 0.13% 0.14%

5/31/2016 0.34% . . 0.10% . . 0.13% 0.15%

6/30/2016 0.35% . . 0.12% . . 0.17% 0.17%

7/31/2016 0.34% . . 0.13% . . 0.17% 0.16%

8/31/2016 0.35% . . 0.23% . . 0.18% 0.16%

9/30/2016 0.40% . . 0.43% . . 0.21% 0.16%

10/31/2016 . 0.52% 0.44% . 0.53% 0.31% 0.21% 0.17%

11/30/2016 . 0.56% 0.43% . 0.49% 0.24% 0.21% 0.20%

12/31/2016 . 0.71% 0.54% . 0.65% 0.37% 0.32% 0.29%

1/31/2017 . 0.76% 0.58% . 0.58% 0.33% 0.35% 0.32%

2/28/2017 . 0.76% 0.60% . 0.56% 0.31% 0.35% 0.33%

3/31/2017 . 0.91% 0.69% . 0.76% 0.49% 0.51% 0.49%

4/30/2017 . 0.95% 0.76% . 0.82% 0.55% 0.53% 0.53%

5/31/2017 . 0.96% 0.77% . 0.70% 0.46% 0.57% 0.59%

6/30/2017 . 1.13% 0.88% . 0.80% 0.56% 0.73% 0.75%

7/31/2017 . 1.16% 0.93% . 0.73% 0.52% 0.77% 0.82%

8/31/2017 . 1.17% 0.94% . 0.71% 0.49% 0.79% 0.81%

9/30/2017 . 1.17% 0.94% . 0.83% 0.58% 0.81% 0.82%

10/31/2017 . 1.18% 0.97% . 0.82% 0.62% 0.82% 0.85%

11/30/2017 . 1.21% 1.01% . 0.87% 0.66% 0.86% 0.91%

12/31/2017 . 1.40% 1.20% . 1.45% 1.23% 1.05% 1.08%

1/31/2018 . 1.46% 1.27% . 1.01% 0.85% 1.10% 1.13%

2/28/2018 . 1.51% 1.34% . 1.01% 0.82% 1.15% 1.23%

3/31/2018 . 1.75% 1.57% . 1.35% 1.12% 1.40% 1.45%

4/30/2018 . 1.85% 1.70% . 1.58% 1.39% 1.46% 1.50%

5/31/2018 . 1.89% 1.78% . 1.03% 0.93% 1.52% 1.56%

6/30/2018 . 2.03% 1.91% . 1.39% 1.22% 1.67% 1.69%

7/31/2018 . 2.05% 1.93% . 0.94% 0.79% 1.69% 1.72%

8/31/2018 . 2.06% 1.95% . 1.44% 1.28% 1.72% 1.78%

9/30/2018 . 2.14% 2.02% . 1.45% 1.28% 1.83% 1.89%

10/31/2018 . 2.25% 2.12% . 1.51% 1.36% 1.94% 2.00%

11/30/2018 . 2.30% 2.20% . 1.62% 1.44% 1.99% 2.05%

12/31/2018 . 2.49% 2.35% . 1.63% 1.46% 2.16% 2.21%

1/31/2019 . 2.52% 2.40% . 1.29% 1.16% 2.17% 2.21%

2/28/2019 . 2.52% 2.39% . 1.63% 1.49% 2.18% 2.23%

3/31/2019 . 2.52% 2.39% . 1.41% 1.31% 2.21% 2.26%

4/30/2019 . 2.50% 2.37% . 2.10% 1.92% 2.21% 2.25%

5/31/2019 . 2.46% 2.32% . 1.45% 1.24% 2.17% 2.21%

6/30/2019 . 2.42% 2.28% . 1.75% 1.60% 2.15% 2.15%

7/31/2019 . 2.36% 2.21% . 1.34% 1.21% 2.10% 2.07%

8/31/2019 . 2.18% 2.05% . 1.30% 1.14% 1.91% 1.91%

9/30/2019 . 2.05% 1.92% . 1.45% 1.28% 1.76% 1.80%

10/31/2019 . 1.90% 1.80% . 1.10% 0.98% 1.62% 1.64%
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 22 of 33 

E. Weighted Average Life, in days(a measure of credit sensitivity)

Prime

(Pre-Oct 2016)

Prime

Institutional

Prime

Retail

Muni

(Pre-Oct 2016)

Muni

Institutional

Muni

Retail Government Treasury

10/31/2015 70.1 . . 34.3 . . 94.3 83.1

11/30/2015 66.7 . . 31.7 . . 87.9 80.6

12/31/2015 57.6 . . 29.4 . . 86.7 83.2

1/31/2016 60.0 . . 28.1 . . 89.4 88.3

2/29/2016 58.5 . . 26.4 . . 92.1 93.4

3/31/2016 55.5 . . 26.9 . . 96.0 94.7

4/30/2016 51.7 . . 23.4 . . 95.4 94.8

5/31/2016 46.8 . . 21.1 . . 95.4 94.5

6/30/2016 45.1 . . 25.3 . . 97.0 102.8

7/31/2016 39.8 . . 26.7 . . 98.7 98.9

8/31/2016 36.5 . . 29.0 . . 97.4 99.7

9/30/2016 42.9 . . 27.5 . . 93.4 97.3

10/31/2016 . 52.8 67.0 . 14.1 27.0 93.1 98.0

11/30/2016 . 55.0 71.5 . 15.6 28.1 93.8 96.8

12/31/2016 . 54.1 70.2 . 16.9 29.3 95.1 98.6

1/31/2017 . 53.8 68.6 . 15.2 27.9 94.6 100.1

2/28/2017 . 50.7 69.2 . 15.2 26.8 91.3 98.2

3/31/2017 . 53.4 68.1 . 14.3 24.5 88.7 95.5

4/30/2017 . 53.7 66.0 . 12.4 22.9 84.8 89.5

5/31/2017 . 52.8 70.8 . 10.9 20.3 82.0 87.1

6/30/2017 . 57.1 76.0 . 11.1 24.1 84.4 94.6

7/31/2017 . 57.7 76.1 . 10.0 24.7 86.1 89.6

8/31/2017 . 56.5 75.3 . 12.7 30.5 85.2 90.2

9/30/2017 . 55.3 72.1 . 14.1 29.4 84.0 90.6

10/31/2017 . 57.2 70.2 . 14.3 27.1 80.3 86.5

11/30/2017 . 58.2 74.3 . 14.6 28.1 86.2 82.8

12/31/2017 . 57.8 69.9 . 17.2 30.8 89.6 86.7

1/31/2018 . 56.7 65.8 . 13.3 27.1 91.4 88.9

2/28/2018 . 53.0 69.0 . 13.1 26.2 90.4 89.3

3/31/2018 . 55.2 72.5 . 13.4 26.6 90.2 93.3

4/30/2018 . 51.3 65.7 . 10.4 24.0 86.3 90.8

5/31/2018 . 49.8 65.1 . 11.2 23.9 82.1 92.1

6/30/2018 . 53.0 66.6 . 10.5 25.1 84.9 94.0

7/31/2018 . 54.8 62.5 . 10.7 24.0 83.3 90.5

8/31/2018 . 57.1 64.2 . 9.8 25.6 84.2 93.5

9/30/2018 . 59.0 66.8 . 11.7 32.1 86.8 93.5

10/31/2018 . 56.0 65.0 . 13.3 32.6 87.8 91.9

11/30/2018 . 59.3 73.5 . 14.3 31.2 86.0 89.2

12/31/2018 . 58.1 62.9 . 13.9 29.2 87.2 90.9

1/31/2019 . 58.4 62.0 . 12.9 29.6 85.7 93.1

2/28/2019 . 59.0 64.0 . 14.0 27.9 88.2 92.4

3/31/2019 . 56.9 67.0 . 14.6 27.6 93.0 92.5

4/30/2019 . 56.4 62.5 . 12.9 25.1 90.9 92.8

5/31/2019 . 60.1 63.1 . 14.1 25.0 93.3 91.2

6/30/2019 . 58.2 62.8 . 14.1 32.5 95.5 91.1

7/31/2019 . 58.8 62.9 . 12.8 31.4 94.7 93.7

8/31/2019 . 61.5 66.9 . 14.0 37.2 97.0 97.0

9/30/2019 . 62.1 72.8 . 16.2 38.5 98.1 95.2

10/31/2019 . 65.7 76.7 . 19.5 41.7 97.7 98.7
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 23 of 33 

F. Weighted Average Maturity, in days (a measure of interest rate sensitivity)

Prime

(Pre-Oct 2016)

Prime

Institutional

Prime

Retail

Muni

(Pre-Oct 2016)

Muni

Institutional

Muni

Retail Government Treasury

10/31/2015 35.8 . . 32.1 . . 37.8 43.2

11/30/2015 32.8 . . 29.2 . . 37.0 39.8

12/31/2015 30.6 . . 27.4 . . 38.6 42.6

1/31/2016 34.5 . . 26.1 . . 37.9 41.4

2/29/2016 35.2 . . 23.8 . . 39.2 44.7

3/31/2016 35.1 . . 23.4 . . 39.8 44.6

4/30/2016 33.4 . . 21.2 . . 39.8 42.2

5/31/2016 30.5 . . 18.4 . . 38.9 39.3

6/30/2016 29.0 . . 23.3 . . 39.4 43.0

7/31/2016 24.8 . . 24.9 . . 39.5 42.3

8/31/2016 21.8 . . 26.6 . . 39.1 45.3

9/30/2016 25.8 . . 24.9 . . 40.4 46.2

10/31/2016 . 28.3 44.8 . 13.6 24.6 41.8 46.5

11/30/2016 . 27.1 44.0 . 14.9 25.7 42.2 46.0

12/31/2016 . 24.4 39.6 . 15.9 27.1 45.0 47.0

1/31/2017 . 24.8 38.3 . 14.3 25.3 42.3 46.6

2/28/2017 . 22.9 37.9 . 14.5 23.8 40.0 43.1

3/31/2017 . 23.0 33.4 . 13.7 21.9 38.1 40.2

4/30/2017 . 24.8 33.6 . 11.7 20.2 34.8 36.3

5/31/2017 . 22.3 38.2 . 10.5 17.3 31.2 33.3

6/30/2017 . 23.8 40.2 . 10.4 21.3 32.0 37.7

7/31/2017 . 25.7 39.3 . 9.4 21.8 31.2 34.8

8/31/2017 . 25.7 37.8 . 12.1 27.4 29.7 35.8

9/30/2017 . 23.7 34.0 . 13.4 26.8 30.3 36.5

10/31/2017 . 22.3 33.8 . 13.6 24.5 28.8 33.1

11/30/2017 . 23.3 35.3 . 14.1 25.7 30.1 31.3

12/31/2017 . 25.0 35.7 . 16.5 28.7 31.8 34.9

1/31/2018 . 24.0 31.6 . 12.8 24.9 29.5 34.6

2/28/2018 . 23.0 31.8 . 12.7 24.0 28.9 36.9

3/31/2018 . 26.4 35.2 . 12.8 24.5 32.2 37.1

4/30/2018 . 24.5 30.9 . 9.8 21.0 28.5 34.6

5/31/2018 . 22.2 32.3 . 10.9 21.2 27.0 34.0

6/30/2018 . 25.4 34.5 . 10.2 22.1 29.3 36.1

7/31/2018 . 27.6 33.5 . 9.8 20.2 27.6 31.8

8/31/2018 . 27.9 36.1 . 9.2 22.3 28.6 32.5

9/30/2018 . 28.0 34.3 . 11.4 28.8 33.3 33.6

10/31/2018 . 25.7 29.9 . 12.9 30.0 32.2 32.2

11/30/2018 . 27.7 35.4 . 14.1 29.0 31.0 29.6

12/31/2018 . 25.8 32.3 . 13.5 27.2 30.3 31.4

1/31/2019 . 27.6 34.1 . 12.5 27.5 27.0 32.5

2/28/2019 . 29.0 34.8 . 13.5 25.4 26.8 31.6

3/31/2019 . 33.3 39.4 . 14.2 25.3 29.7 32.4

4/30/2019 . 32.9 34.2 . 12.6 22.7 28.0 31.8

5/31/2019 . 33.6 32.7 . 13.8 22.6 27.6 32.5

6/30/2019 . 32.4 32.9 . 13.7 30.6 27.6 31.7

7/31/2019 . 32.2 32.9 . 12.4 28.9 26.8 33.4

8/31/2019 . 32.6 36.7 . 13.8 34.7 27.6 36.1

9/30/2019 . 31.0 40.7 . 15.9 35.9 29.8 36.9

10/31/2019 . 34.1 43.5 . 19.1 39.2 31.8 40.9
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 24 of 33 

G. Daily Liquid Assets as Percent of Total Assets

(As municipal funds do not have a daily liquidity requirement, their daily liquidity statistics are not included here.)

Prime

(Pre-Oct 2016)

Prime

Institutional

Prime

Retail Government Treasury

10/31/2015 27.5% . . 32.5% 92.6%

11/30/2015 30.1% . . 39.6% 93.8%

12/31/2015 32.3% . . 37.0% 96.0%

1/31/2016 27.9% . . 31.3% 93.8%

2/29/2016 30.7% . . 32.2% 94.4%

3/31/2016 31.0% . . 34.2% 95.7%

4/30/2016 32.7% . . 32.0% 91.2%

5/31/2016 32.7% . . 32.0% 93.3%

6/30/2016 31.0% . . 35.0% 94.1%

7/31/2016 34.8% . . 32.6% 90.1%

8/31/2016 38.9% . . 40.0% 92.9%

9/30/2016 43.0% . . 46.7% 93.3%

10/31/2016 . 41.4% 30.3% 47.3% 93.5%

11/30/2016 . 37.8% 25.9% 46.4% 93.1%

12/31/2016 . 41.0% 30.3% 49.3% 94.4%

1/31/2017 . 38.5% 28.4% 43.6% 93.5%

2/28/2017 . 37.8% 25.8% 44.2% 93.0%

3/31/2017 . 41.4% 28.6% 47.3% 94.5%

4/30/2017 . 33.7% 23.2% 44.0% 89.7%

5/31/2017 . 39.7% 27.8% 45.1% 91.1%

6/30/2017 . 41.9% 27.9% 44.8% 93.2%

7/31/2017 . 36.6% 26.6% 41.2% 91.4%

8/31/2017 . 35.7% 26.5% 42.4% 90.2%

9/30/2017 . 40.1% 29.2% 42.4% 91.8%

10/31/2017 . 37.9% 27.1% 43.8% 90.7%

11/30/2017 . 37.7% 25.0% 42.6% 91.2%

12/31/2017 . 38.5% 29.8% 45.9% 93.4%

1/31/2018 . 31.7% 22.4% 40.9% 91.4%

2/28/2018 . 33.9% 26.1% 44.3% 91.1%

3/31/2018 . 35.1% 26.7% 47.0% 92.4%

4/30/2018 . 37.2% 25.2% 46.3% 91.6%

5/31/2018 . 34.9% 20.8% 46.8% 91.0%

6/30/2018 . 36.7% 21.2% 44.8% 91.0%

7/31/2018 . 36.4% 23.9% 44.5% 90.8%

8/31/2018 . 40.1% 27.8% 47.1% 92.3%

9/30/2018 . 37.0% 23.1% 46.8% 91.7%

10/31/2018 . 39.3% 22.4% 46.7% 92.1%

11/30/2018 . 37.8% 25.7% 46.2% 91.6%

12/31/2018 . 37.9% 30.6% 48.7% 93.5%

1/31/2019 . 40.2% 27.0% 47.4% 92.5%

2/28/2019 . 40.0% 27.5% 46.8% 92.0%

3/31/2019 . 41.2% 27.6% 43.9% 92.2%

4/30/2019 . 39.9% 26.0% 42.9% 91.5%

5/31/2019 . 37.6% 23.6% 42.3% 90.7%

6/30/2019 . 37.8% 21.5% 43.1% 90.2%

7/31/2019 . 38.4% 22.2% 45.1% 90.3%

8/31/2019 . 39.3% 24.7% 47.6% 91.0%

9/30/2019 . 37.6% 25.5% 46.6% 91.3%

10/31/2019 . 37.7% 25.1% 47.0% 91.9%
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 25 of 33 

H. Weekly Liquid Assets as Percent of Total Assets

Prime

(Pre-Oct 2016)

Prime

Institutional

Prime

Retail

Muni

(Pre-Oct 2016)

Muni

Institutional

Muni

Retail Government Treasury

10/31/2015 41.7% . . 66.4% . . 58.2% 99.0%

11/30/2015 43.0% . . 79.8% . . 64.7% 99.3%

12/31/2015 45.3% . . 79.9% . . 61.5% 99.8%

1/31/2016 42.6% . . 66.5% . . 60.9% 98.9%

2/29/2016 42.9% . . 79.5% . . 61.6% 99.5%

3/31/2016 44.7% . . 79.5% . . 59.3% 99.5%

4/30/2016 45.8% . . 68.0% . . 57.4% 95.5%

5/31/2016 48.0% . . 79.6% . . 59.3% 99.0%

6/30/2016 49.0% . . 81.0% . . 58.9% 98.9%

7/31/2016 53.7% . . 77.2% . . 58.2% 96.0%

8/31/2016 62.3% . . 79.8% . . 63.9% 98.6%

9/30/2016 62.5% . . 78.6% . . 67.6% 98.6%

10/31/2016 . 58.0% 45.2% . 93.1% 79.1% 69.5% 98.4%

11/30/2016 . 57.5% 43.6% . 90.4% 79.0% 68.8% 98.5%

12/31/2016 . 58.8% 42.9% . 90.5% 77.3% 68.4% 98.4%

1/31/2017 . 56.0% 43.0% . 91.3% 76.5% 67.3% 98.6%

2/28/2017 . 56.2% 42.8% . 89.1% 76.8% 68.8% 98.7%

3/31/2017 . 56.1% 43.3% . 88.2% 79.2% 68.6% 99.0%

4/30/2017 . 54.3% 41.6% . 85.5% 75.8% 69.2% 96.1%

5/31/2017 . 54.7% 42.7% . 90.0% 80.2% 69.7% 98.3%

6/30/2017 . 56.5% 41.9% . 92.9% 80.6% 68.4% 99.2%

7/31/2017 . 55.7% 41.3% . 90.3% 79.5% 67.5% 98.9%

8/31/2017 . 54.7% 41.5% . 91.1% 77.7% 66.8% 98.3%

9/30/2017 . 56.0% 45.2% . 83.6% 66.0% 67.8% 98.2%

10/31/2017 . 55.8% 44.1% . 88.3% 78.4% 70.8% 97.8%

11/30/2017 . 55.4% 44.0% . 89.5% 79.3% 69.8% 99.0%

12/31/2017 . 55.1% 44.7% . 85.4% 76.3% 70.0% 98.4%

1/31/2018 . 53.6% 44.4% . 87.4% 78.0% 70.6% 98.0%

2/28/2018 . 54.7% 44.9% . 87.1% 77.7% 70.7% 97.8%

3/31/2018 . 54.0% 41.6% . 84.3% 74.3% 69.7% 97.7%

4/30/2018 . 55.6% 41.7% . 89.8% 75.4% 70.5% 98.4%

5/31/2018 . 54.8% 41.2% . 88.7% 76.7% 71.3% 98.5%

6/30/2018 . 54.4% 41.0% . 90.3% 77.4% 69.9% 98.6%

7/31/2018 . 55.1% 41.9% . 85.4% 78.3% 70.9% 98.0%

8/31/2018 . 55.5% 42.0% . 91.6% 79.4% 72.4% 98.8%

9/30/2018 . 54.3% 42.7% . 86.4% 76.2% 70.4% 98.3%

10/31/2018 . 55.1% 42.8% . 89.1% 76.4% 70.8% 98.2%

11/30/2018 . 54.0% 40.1% . 88.9% 77.4% 71.8% 99.0%

12/31/2018 . 54.0% 43.3% . 87.5% 76.7% 71.6% 98.8%

1/31/2019 . 54.6% 41.6% . 89.6% 74.4% 70.6% 98.2%

2/28/2019 . 54.3% 42.4% . 88.8% 76.4% 70.7% 98.1%

3/31/2019 . 55.8% 41.2% . 87.5% 75.5% 69.3% 98.2%

4/30/2019 . 54.2% 41.2% . 84.9% 74.8% 69.2% 98.2%

5/31/2019 . 52.6% 41.5% . 87.2% 76.2% 69.3% 98.6%

6/30/2019 . 53.7% 40.6% . 86.2% 74.6% 69.8% 97.7%

7/31/2019 . 53.1% 40.6% . 86.0% 76.1% 69.8% 97.9%

8/31/2019 . 54.5% 42.5% . 86.6% 75.1% 71.8% 97.6%

9/30/2019 . 53.8% 41.9% . 84.8% 74.3% 71.9% 98.2%

10/31/2019 . 52.5% 39.2% . 87.5% 73.2% 70.5% 98.6%
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 26 of 33 

I. Prime MMFs Holdings of Bank-Related Securities by Country(Millions)

(Bank-related securities include Certificates of Deposit, Time Deposits, sponsored ABCP, and repurchase agreements where the 

bank is the counterparty)

US PrimeAust/NZ Canada France Germany Japan Netherlands Switzerland UK

10/31/2015 $186,642 $89,622 $188,570 $188,032 $46,715 $178,992 $53,497 $46,285 $73,738 

11/30/2015 $188,746 $88,191 $199,736 $179,724 $38,772 $172,077 $50,962 $45,123 $73,477 

12/31/2015 $187,704 $87,351 $183,189 $104,508 $32,739 $162,264 $43,484 $31,781 $57,684 

1/31/2016 $182,104 $84,278 $177,634 $181,821 $43,463 $161,629 $50,000 $41,933 $77,124 

2/29/2016 $190,935 $81,949 $181,858 $190,173 $46,675 $156,241 $50,163 $47,716 $74,990 

3/31/2016 $176,293 $68,987 $165,549 $132,379 $50,440 $163,308 $49,837 $41,728 $63,814 

4/30/2016 $171,482 $71,449 $139,091 $177,840 $53,344 $159,432 $47,800 $40,081 $69,096 

5/31/2016 $149,185 $62,106 $141,828 $164,771 $53,837 $160,888 $44,629 $36,550 $63,438 

6/30/2016 $143,672 $63,142 $137,677 $111,480 $44,286 $145,936 $39,564 $29,145 $57,450 

7/31/2016 $127,698 $60,820 $112,577 $157,244 $48,879 $128,902 $35,698 $33,991 $52,566 

8/31/2016 $100,567 $50,344 $99,785 $145,490 $39,497 $87,568 $28,035 $24,611 $40,598 

9/30/2016 $77,117 $37,403 $76,796 $55,565 $28,727 $50,429 $23,803 $13,239 $30,229 

10/31/2016 $55,269 $28,265 $56,307 $53,223 $23,749 $47,863 $20,252 $12,274 $25,672 

11/30/2016 $52,839 $29,012 $60,293 $57,610 $22,680 $43,767 $21,795 $10,491 $21,786

12/31/2016 $58,507 $34,539 $70,573 $41,649 $19,868 $44,763 $12,350 $11,287 $13,580 

1/31/2017 $58,023 $33,000 $64,246 $55,054 $25,345 $43,610 $16,778 $11,769 $24,091 

2/28/2017 $53,922 $35,300 $66,475 $62,096 $26,524 $44,909 $16,373 $12,045 $20,550 

3/31/2017 $56,244 $38,773 $81,099 $47,431 $26,119 $47,452 $16,410 $10,892 $18,155 

4/30/2017 $61,042 $39,134 $68,858 $59,551 $25,048 $48,325 $19,921 $14,838 $25,945 

5/31/2017 $57,170 $37,442 $69,156 $63,174 $25,561 $47,673 $21,388 $16,209 $26,238 

6/30/2017 $59,305 $38,208 $80,402 $45,291 $18,840 $49,401 $16,196 $15,530 $23,052 

7/31/2017 $60,935 $36,520 $79,390 $56,574 $27,019 $48,260 $24,212 $12,878 $25,745 

8/31/2017 $61,380 $38,688 $76,927 $64,906 $28,424 $48,492 $31,501 $14,699 $26,002 

9/30/2017 $55,743 $41,342 $84,706 $54,480 $29,824 $51,631 $21,272 $15,014 $29,727 

10/31/2017 $60,851 $40,871 $78,528 $63,416 $28,244 $50,062 $34,688 $16,699 $31,297 

11/30/2017 $65,019 $42,365 $93,097 $65,718 $33,112 $54,121 $29,178 $15,789 $32,885 

12/31/2017 $67,441 $47,085 $101,879 $39,108 $24,540 $51,882 $14,462 $16,354 $30,506 

1/31/2018 $72,365 $42,414 $88,728 $62,068 $28,744 $50,203 $36,648 $20,878 $32,517 

2/28/2018 $63,838 $39,232 $89,252 $63,537 $27,239 $55,237 $33,060 $23,998 $35,451 

3/31/2018 $67,938 $39,869 $90,298 $50,320 $30,199 $53,094 $28,967 $18,139 $37,838 

4/30/2018 $66,189 $36,711 $84,856 $61,343 $31,266 $57,737 $28,094 $30,528 $38,762 

5/31/2018 $68,373 $32,490 $89,509 $56,732 $34,619 $64,388 $29,163 $25,283 $41,567 

6/30/2018 $66,379 $35,652 $91,761 $48,019 $32,600 $59,551 $18,954 $17,792 $31,895 

7/31/2018 $66,236 $28,949 $85,975 $60,509 $34,956 $65,719 $36,348 $19,943 $41,350 

8/31/2018 $71,812 $30,607 $90,422 $59,673 $34,339 $66,409 $32,119 $18,993 $44,571 

9/30/2018 $71,210 $31,444 $105,020 $60,898 $35,392 $71,200 $29,567 $10,678 $38,307 

10/31/2018 $77,403 $33,813 $98,542 $78,202 $40,330 $68,986 $26,881 $20,441 $46,233 

11/30/2018 $83,356 $39,065 $103,346 $68,335 $39,566 $71,141 $23,774 $21,244 $49,361 

12/31/2018 $92,821 $40,161 $123,301 $53,809 $23,065 $83,019 $15,576 $23,882 $35,439 

1/31/2019 $95,330 $35,925 $105,743 $75,596 $31,019 $103,889 $32,848 $24,041 $42,278 

2/28/2019 $94,814 $35,982 $112,401 $79,765 $31,393 $88,977 $25,027 $29,481 $44,540 

3/31/2019 $104,601 $35,983 $118,719 $65,434 $40,059 $86,889 $32,465 $21,610 $44,462 

4/30/2019 $117,416 $33,793 $124,289 $86,468 $41,331 $99,667 $31,575 $28,371 $40,256 

5/31/2019 $117,860 $36,074 $129,517 $86,740 $43,623 $99,894 $31,680 $26,039 $42,591 

6/30/2019 $121,447 $38,184 $147,844 $72,379 $42,936 $96,784 $28,774 $21,892 $48,687 

7/31/2019 $125,557 $39,932 $150,648 $96,063 $51,370 $102,070 $38,179 $26,116 $52,217 

8/31/2019 $126,532 $43,535 $144,809 $90,541 $53,506 $104,337 $35,335 $24,212 $45,844 

9/30/2019 $132,839 $44,718 $158,389 $75,210 $56,037 $105,129 $37,388 $21,447 $38,845 

10/31/2019 $124,574 $50,044 $148,637 $84,959 $52,809 $113,382 $47,246 $23,070 $54,457 
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 27 of 33 

J. Prime MMFs Holdings of Bank-Related Securities by Region (Millions)

(Bank-related securities include Certificates of Deposit, Time Deposits, sponsored ABCP, and repurchase agreements where the 

bank is the counterparty) 

Americas Asia/Pacific Europe Eurozone

10/31/2015 $377,808 $294,191 $586,639 $302,055 

11/30/2015 $390,944 $285,591 $549,831 $284,337 

12/31/2015 $373,214 $279,261 $339,225 $186,618 

1/31/2016 $361,722 $272,201 $564,923 $291,871 

2/29/2016 $374,976 $262,077 $584,937 $304,889 

3/31/2016 $344,016 $257,902 $454,696 $242,342 

4/30/2016 $312,791 $255,496 $571,371 $297,202 

5/31/2016 $292,675 $250,898 $545,708 $281,622 

6/30/2016 $282,750 $241,802 $391,986 $202,039 

7/31/2016 $241,745 $219,437 $478,183 $256,238 

8/31/2016 $201,539 $161,803 $414,665 $227,798 

9/30/2016 $154,358 $98,569 $218,682 $110,519 

10/31/2016 $112,169 $84,255 $189,513 $102,615 

11/30/2016 $113,736 $80,532 $189,359 $108,089 

12/31/2016 $129,780 $88,706 $132,221 $78,415 

1/31/2017 $122,864 $86,155 $191,920 $107,601 

2/28/2017 $121,228 $90,201 $204,219 $115,993 

3/31/2017 $138,311 $97,042 $186,298 $95,304 

4/30/2017 $130,493 $98,436 $216,358 $117,210 

5/31/2017 $126,919 $95,203 $222,292 $122,851 

6/30/2017 $140,245 $101,940 $178,741 $86,779 

7/31/2017 $140,817 $98,346 $210,819 $120,468 

8/31/2017 $138,973 $100,476 $236,187 $137,561 

9/30/2017 $140,983 $107,721 $219,908 $112,538 

10/31/2017 $140,003 $103,269 $247,709 $141,263 

11/30/2017 $158,724 $109,930 $243,457 $141,678 

12/31/2017 $170,109 $114,197 $172,127 $86,732 

1/31/2018 $161,705 $104,374 $244,751 $140,569 

2/28/2018 $153,706 $107,348 $246,462 $135,413 

3/31/2018 $158,769 $106,762 $213,557 $115,255 

4/30/2018 $151,589 $108,511 $254,940 $130,595 

5/31/2018 $158,603 $109,848 $243,385 $127,890 

6/30/2018 $158,796 $110,025 $213,975 $106,821 

7/31/2018 $152,778 $109,968 $255,767 $140,067 

8/31/2018 $162,949 $111,847 $252,776 $134,998 

9/30/2018 $177,159 $119,718 $234,910 $133,740 

10/31/2018 $176,629 $118,456 $276,946 $158,020 

11/30/2018 $187,242 $124,768 $268,842 $146,213 

12/31/2018 $216,933 $138,113 $202,689 $103,413 

1/31/2019 $201,638 $153,648 $275,567 $155,848 

2/28/2019 $207,744 $139,543 $290,111 $151,140 

3/31/2019 $223,911 $141,483 $276,147 $146,045 

4/30/2019 $242,298 $152,893 $293,622 $169,148 

5/31/2019 $247,995 $159,125 $287,404 $168,830 

6/30/2019 $269,958 $161,272 $277,733 $152,257 

7/31/2019 $276,953 $166,073 $316,676 $195,315 

8/31/2019 $272,044 $172,319 $309,117 $189,711 

9/30/2019 $291,799 $175,800 $287,765 $178,434 

10/31/2019 $273,724 $189,872 $326,857 $197,058 
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 28 of 33 

K. Prime Funds Portfolio Composition

Asset-Backed CDs and Time Deposits Financial Co. CP Gov& Treas (Direct & Repo) Non-Financial Co. CP & Other

10/31/2015 $97,867 $536,390 $244,734 $482,490 $423,476 

11/30/2015 $98,101 $508,976 $232,774 $475,131 $408,991 

12/31/2015 $100,001 $448,039 $212,028 $511,341 $284,518 

1/31/2016 $97,175 $502,491 $233,403 $338,219 $393,273 

2/29/2016 $99,442 $509,330 $229,720 $338,413 $413,816 

3/31/2016 $99,407 $470,149 $223,813 $409,466 $301,876 

4/30/2016 $93,903 $633,856 $228,874 $296,958 $214,119 

5/31/2016 $88,388 $610,881 $219,174 $283,012 $211,359 

6/30/2016 $82,300 $493,649 $191,981 $315,884 $188,373 

7/31/2016 $70,826 $528,712 $179,301 $276,786 $177,183 

8/31/2016 $50,509 $458,565 $141,475 $220,096 $159,002 

9/30/2016 $32,234 $260,280 $86,118 $222,935 $129,102 

10/31/2016 $31,214 $212,463 $86,686 $125,909 $106,548 

11/30/2016 $32,613 $211,101 $86,079 $125,233 $112,738 

12/31/2016 $32,515 $191,495 $78,677 $138,081 $104,516 

1/31/2017 $31,280 $232,349 $86,938 $105,944 $104,006 

2/28/2017 $31,882 $243,982 $94,693 $109,092 $104,009 

3/31/2017 $31,470 $245,654 $100,704 $122,938 $93,170 

4/30/2017 $34,261 $259,185 $102,998 $105,465 $101,768 

5/31/2017 $34,915 $257,741 $103,142 $120,056 $94,616 

6/30/2017 $38,005 $231,652 $101,583 $154,742 $83,467 

7/31/2017 $37,676 $255,799 $103,858 $136,482 $88,453 

8/31/2017 $41,166 $271,275 $118,815 $117,587 $92,259 

9/30/2017 $38,080 $263,070 $115,276 $150,153 $93,851 

10/31/2017 $38,932 $279,090 $119,279 $137,314 $95,196 

11/30/2017 $40,230 $283,618 $126,694 $132,108 $95,698 

12/31/2017 $41,367 $229,575 $125,719 $162,539 $98,792 

1/31/2018 $41,962 $265,761 $141,637 $120,823 $97,725 

2/28/2018 $40,185 $256,631 $143,571 $123,698 $104,043 

3/31/2018 $39,885 $222,924 $132,047 $161,875 $98,970 

4/30/2018 $38,018 $242,621 $142,426 $163,528 $97,577 

5/31/2018 $41,658 $227,305 $146,700 $161,880 $104,614 

6/30/2018 $41,932 $230,096 $143,163 $158,911 $95,339 

7/31/2018 $44,428 $243,998 $153,108 $156,450 $109,146 

8/31/2018 $45,757 $240,445 $150,485 $189,323 $104,427 

9/30/2018 $47,464 $246,243 $153,670 $186,679 $109,552 

10/31/2018 $46,840 $262,769 $156,687 $172,413 $107,399 

11/30/2018 $51,916 $263,039 $156,449 $190,315 $106,553 

12/31/2018 $55,236 $245,797 $149,081 $212,784 $99,885 

1/31/2019 $58,251 $289,433 $160,741 $216,162 $99,421 

2/28/2019 $59,125 $297,990 $167,806 $244,638 $109,297 

3/31/2019 $58,043 $282,832 $186,910 $313,254 $130,053 

4/30/2019 $59,523 $298,736 $192,077 $310,274 $140,941 

5/31/2019 $61,954 $302,632 $196,984 $301,045 $145,395 

6/30/2019 $62,729 $321,788 $205,101 $281,563 $147,701 

7/31/2019 $63,881 $320,312 $216,601 $290,662 $149,012 

8/31/2019 $63,801 $333,346 $213,464 $310,125 $139,889 

9/30/2019 $63,541 $316,338 $226,710 $326,320 $141,652 

10/31/2019 $62,922 $332,718 $236,409 $322,149 $150,009 
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 29 of 33 

L. Government and Treasury MMFs Bank Repo Counterpartiesby Country(Millions)

US Canada France Germany Japan UK Other

10/31/2015 $81,216 $32,669 $96,394 $459 $11,401 $19,277 $34,908 

11/30/2015 $71,254 $43,154 $90,241 $304 $9,633 $20,116 $23,683 

12/31/2015 $72,819 $44,675 $37,590 $2,065 $11,037 $15,345 $9,874 

1/31/2016 $80,633 $43,594 $108,133 $4,799 $17,507 $18,305 $28,928 

2/29/2016 $87,553 $50,817 $120,096 $8,047 $17,711 $20,984 $31,294 

3/31/2016 $75,401 $49,567 $55,583 $6,562 $12,854 $17,145 $13,504 

4/30/2016 $90,436 $54,482 $125,243 $9,869 $24,977 $24,413 $29,612 

5/31/2016 $85,123 $59,950 $123,910 $12,319 $25,534 $28,005 $30,664 

6/30/2016 $88,294 $72,381 $71,196 $9,752 $24,498 $24,165 $13,089 

7/31/2016 $93,632 $63,254 $148,439 $15,518 $34,739 $37,409 $32,028 

8/31/2016 $105,961 $75,811 $173,611 $20,024 $37,760 $41,857 $38,445 

9/30/2016 $112,594 $75,405 $99,395 $15,168 $54,025 $53,088 $19,981 

10/31/2016 $132,097 $67,885 $180,878 $35,712 $66,141 $49,231 $40,666 

11/30/2016 $128,844 $90,774 $167,053 $27,923 $75,887 $44,514 $38,058 

12/31/2016 $104,212 $92,700 $77,674 $10,245 $66,718 $26,148 $16,399 

1/31/2017 $130,451 $87,787 $184,044 $23,358 $77,648 $50,601 $38,485 

2/28/2017 $131,586 $97,761 $187,092 $22,619 $80,995 $47,247 $29,261 

3/31/2017 $116,938 $103,416 $114,987 $13,631 $82,655 $34,403 $22,336 

4/30/2017 $137,250 $107,535 $193,548 $19,389 $94,710 $62,132 $39,740 

5/31/2017 $133,525 $116,243 $189,492 $20,078 $98,886 $73,356 $37,838 

6/30/2017 $114,103 $113,489 $125,437 $15,246 $97,700 $63,456 $28,061 

7/31/2017 $130,405 $103,509 $200,030 $21,802 $103,244 $74,542 $41,148 

8/31/2017 $137,777 $113,874 $219,808 $17,610 $112,436 $75,479 $50,101 

9/30/2017 $118,168 $119,790 $165,379 $18,940 $99,545 $55,796 $36,585 

10/31/2017 $127,641 $115,055 $241,971 $21,235 $105,813 $81,658 $51,138 

11/30/2017 $135,630 $125,604 $245,902 $28,452 $109,140 $84,129 $56,463 

12/31/2017 $127,784 $148,809 $111,718 $26,666 $115,001 $76,159 $28,411 

1/31/2018 $145,412 $128,353 $219,634 $36,939 $115,405 $95,388 $55,246 

2/28/2018 $143,112 $124,849 $222,224 $24,839 $120,500 $101,836 $54,364 

3/31/2018 $126,073 $130,753 $181,170 $15,336 $104,153 $100,646 $35,832 

4/30/2018 $156,306 $118,552 $236,494 $17,080 $120,370 $108,941 $45,286 

5/31/2018 $154,607 $127,472 $255,834 $20,538 $115,758 $104,044 $48,050 

6/30/2018 $153,799 $144,331 $193,276 $10,811 $126,228 $86,101 $33,673 

7/31/2018 $152,204 $126,428 $244,641 $25,969 $136,361 $95,907 $52,903 

8/31/2018 $143,524 $124,626 $230,774 $23,176 $138,966 $104,708 $50,489 

9/30/2018 $149,194 $140,200 $185,394 $18,349 $135,127 $93,072 $36,669 

10/31/2018 $142,819 $122,622 $223,488 $24,319 $136,083 $97,201 $50,147 

11/30/2018 $141,938 $147,878 $208,925 $25,172 $134,738 $96,941 $44,590 

12/31/2018 $172,218 $165,790 $133,126 $15,324 $135,124 $89,441 $38,148 

1/31/2019 $174,729 $145,025 $224,616 $20,829 $141,194 $102,066 $44,497 

2/28/2019 $174,532 $154,948 $218,945 $19,726 $134,044 $98,835 $44,441 

3/31/2019 $191,597 $165,671 $172,279 $23,105 $123,776 $89,430 $29,363 

4/30/2019 $194,493 $140,438 $217,538 $18,231 $134,708 $99,874 $41,845 

5/31/2019 $202,323 $145,633 $223,616 $19,619 $138,983 $100,880 $37,886 

6/30/2019 $209,488 $164,072 $180,025 $18,738 $130,722 $98,275 $32,167 

7/31/2019 $221,779 $130,254 $232,459 $19,306 $138,225 $115,385 $37,889 

8/31/2019 $218,087 $162,535 $239,271 $20,924 $144,041 $116,497 $35,805 

9/30/2019 $237,238 $167,036 $196,717 $22,175 $136,418 $88,516 $36,639 

10/31/2019 $183,086 $146,460 $235,668 $20,323 $149,304 $73,461 $41,028 
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 30 of 33 

M. Funds Repo with the Fed (Millions)

FedRepo

10/31/2015 $188,401 

11/30/2015 $133,924 

12/31/2015 $423,991 

1/31/2016 $104,048 

2/29/2016 $79,448 

3/31/2016 $267,679 

4/30/2016 $60,033 

5/31/2016 $90,902 

6/30/2016 $242,784 

7/31/2016 $85,043 

8/31/2016 $149,893 

9/30/2016 $384,348 

10/31/2016 $198,088 

11/30/2016 $177,264 

12/31/2016 $403,420 

1/31/2017 $165,226 

2/28/2017 $194,041 

3/31/2017 $328,793 

4/30/2017 $174,266 

5/31/2017 $244,136 

6/30/2017 $365,114 

7/31/2017 $189,737 

8/31/2017 $204,126 

9/30/2017 $298,480 

10/31/2017 $164,445 

11/30/2017 $96,209 

12/31/2017 $288,134 

1/31/2018 $55,087 

2/28/2018 $30,873 

3/31/2018 $22,621 

4/30/2018 $13,720 

5/31/2018 $21,465 

6/30/2018 $88,810 

7/31/2018 $9,035 

8/31/2018 $380 

9/30/2018 $44,945 

10/31/2018 $4,805 

11/30/2018 $2,455 

12/31/2018 $39,648 

1/31/2019 $1,041 

2/28/2019 $3,405 

3/31/2019 $721 

4/30/2019 $5 

5/31/2019 $855 

6/30/2019 $43,607 

7/31/2019 $7,366 

8/31/2019 $12,089 

9/30/2019 $7,057 

10/31/2019 $2,850 
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 31 of 33 

N. Percent of Securities with Greater Than 179 Days to Maturity

Prime

(Pre-Oct 

Prime

Institutional

Prime

Retail

Muni

(Pre-Oct 2016)

Muni

Institutional

Muni

Retail Government Treasury

10/31/2015 8.6% . . 8.5% . . 16.0% 13.7%

11/30/2015 7.5% . . 8.3% . . 15.0% 11.5%

12/31/2015 5.2% . . 7.3% . . 14.4% 13.8%

1/31/2016 5.2% . . 4.5% . . 15.1% 16.6%

2/29/2016 4.7% . . 3.6% . . 15.4% 14.2%

3/31/2016 4.6% . . 3.7% . . 17.3% 14.6%

4/30/2016 4.5% . . 3.4% . . 17.7% 16.7%

5/31/2016 3.5% . . 3.3% . . 17.9% 14.3%

6/30/2016 3.6% . . 4.9% . . 19.1% 17.3%

7/31/2016 3.5% . . 5.5% . . 19.6% 17.8%

8/31/2016 3.0% . . 6.4% . . 18.6% 16.5%

9/30/2016 3.6% . . 6.0% . . 17.2% 17.4%

10/31/2016 . 6.3% 6.2% . 3.2% 6.0% 17.1% 18.6%

11/30/2016 . 5.7% 6.8% . 3.9% 6.5% 17.5% 16.5%

12/31/2016 . 6.8% 6.9% . 3.4% 6.0% 18.2% 18.0%

1/31/2017 . 7.2% 6.5% . 1.7% 3.9% 19.0% 18.9%

2/28/2017 . 6.9% 7.1% . 1.9% 3.4% 18.0% 17.2%

3/31/2017 . 9.2% 8.3% . 1.6% 3.3% 17.9% 17.7%

4/30/2017 . 8.6% 7.7% . 1.5% 2.9% 16.7% 17.8%

5/31/2017 . 9.0% 8.1% . 1.0% 2.6% 16.3% 14.7%

6/30/2017 . 9.2% 8.3% . 1.2% 3.6% 16.5% 15.8%

7/31/2017 . 10.2% 10.5% . 1.1% 4.1% 15.7% 15.9%

8/31/2017 . 9.1% 11.5% . 1.5% 5.6% 15.0% 13.3%

9/30/2017 . 9.1% 9.7% . 1.7% 5.5% 13.8% 15.1%

10/31/2017 . 10.1% 9.1% . 1.8% 5.3% 13.7% 15.2%

11/30/2017 . 10.3% 10.6% . 2.4% 6.1% 15.6% 13.1%

12/31/2017 . 8.7% 8.3% . 3.1% 5.8% 15.9% 13.7%

1/31/2018 . 8.3% 9.2% . 2.0% 4.4% 16.6% 15.3%

2/28/2018 . 7.2% 10.1% . 2.0% 4.1% 16.2% 12.8%

3/31/2018 . 6.9% 8.7% . 0.9% 2.9% 15.8% 14.1%

4/30/2018 . 6.4% 7.9% . 0.6% 2.8% 15.0% 14.3%

5/31/2018 . 6.5% 5.4% . 0.5% 3.0% 14.1% 13.9%

6/30/2018 . 7.4% 7.8% . 0.4% 3.4% 15.3% 15.1%

7/31/2018 . 8.2% 6.5% . 0.7% 4.0% 15.7% 15.7%

8/31/2018 . 9.2% 6.0% . 0.6% 4.7% 15.5% 15.0%

9/30/2018 . 9.0% 7.2% . 1.1% 6.6% 14.3% 14.6%

10/31/2018 . 8.1% 8.0% . 2.0% 7.2% 15.2% 15.9%

11/30/2018 . 8.4% 8.3% . 2.1% 7.1% 15.2% 14.4%

12/31/2018 . 7.9% 6.2% . 1.9% 5.0% 15.5% 15.3%

1/31/2019 . 9.0% 6.3% . 1.9% 5.0% 15.5% 16.9%

2/28/2019 . 8.1% 7.7% . 1.9% 4.8% 15.3% 14.5%

3/31/2019 . 7.3% 7.8% . 0.7% 2.9% 16.0% 15.2%

4/30/2019 . 8.2% 7.6% . 0.8% 2.8% 16.6% 17.7%

5/31/2019 . 9.0% 6.0% . 1.0% 3.1% 17.8% 14.7%

6/30/2019 . 8.6% 6.8% . 0.9% 5.3% 18.0% 16.1%

7/31/2019 . 9.5% 8.4% . 0.9% 6.1% 18.0% 17.9%

8/31/2019 . 9.8% 9.9% . 1.5% 7.9% 17.9% 15.5%

9/30/2019 . 9.5% 9.2% . 2.2% 8.7% 17.7% 15.8%

10/31/2019 . 11.0% 11.3% . 3.4% 10.0% 18.8% 17.6%
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 32 of 33 

Appendix 2 – Key Definitions

Included by reference are all definitions included in the definitions section of Form 

N-MFP and definitions set forth in Rule 2a-7 (17 CFR 270.2a-7). 1

Bank-related securities For purposes of this report, includes certificates of deposit, time deposits, 

sponsored ABCP, and repurchase agreements where the bank is the 

counterparty.

Daily liquid assets Means: 

(i) Cash;

(ii) Direct obligationsofthe U.S. Government;

(iii) Securitiesthat willmature (asdeterminedwithout reference tothe

exceptionsin paragraph(i)of 29 CFR 270.2a-7 regardinginterestrate

readjustments), or are subjecttoa demandfeature thatisexercisable and

payable, within one business day; or

(iv) Amountsreceivable and due unconditionally within one business day on

pending sales of portfolio securities.

Form N-MFP Used by Money Market Funds to file reports with the Commission pursuant to 

rule 30b1-7 under the Act (17 CFR 270.30b1-7). The form is available at 

https://www.sec.gov/about/forms/formn-mfp.pdf.

Fund Category A category on Item A.10 of Form N-MFP. Form N-MFP requests filers to identify 

each Fund from among the following categories: Treasury, Government 

Agency, Exempt Government, Prime, Single State and Other Tax Exempt, and 

further asks the filer to identify whether the Fund is an exempt Retail money 

market fund. 

Government money market

fund

A money market fund that invests 99.5 percent or more of its total assets in 

cash, government securities, and/or repurchase agreements that are 

collateralized fully.

Institutional money market 

fund

A Fund reported on Form N-MFP that is not identified as a Retail money market 

fund. Government and Treasury money market funds are not required to make 

this distinction.

Money Market Fund (or Fund) A registered open-end management investment company, or series thereof, 

that is regulated as a money market fund pursuant to rule 2a–7 (17 CFR 270.2a–

7) under the Investment Company Act of 1940.

 1 Form N-MFP is available at https://www.sec.gov/about/forms/formn-mfp.pdf. Rule 2-a7(17 CFR 270.2a-7) is available at 

https://www.ecfr.gov/cgi-bin/text-idx?SID=e937839363fe49d2f475d202e9a94320&mc=true&node=se17.4.270_12a_67&rgn=div8.
U.S. Securities and Exchange Commission, Money Market Funds Statistics, data as of October 31, 2019

Page | 33 of 33 

Prime money market fund Any Fund reported on Form N-MFP as a Prime money market fund. Prime 

money market funds generally hold a variety of taxable short-term obligations 

issued by corporations and banks, as well as repurchase agreements and assetbacked commercial paper. 2

Retail money market fund A money market fund that has policies and procedures reasonably designed to 

limit all beneficial owners of the fund to natural persons. Government and 

Treasury money market funds are not required to make this distinction.

Tax exempt fund A money market fund that holds itself out as distributing income exempt from 

regular federal income tax.

Treasury money market fund A government money market fund that limits its holdings to only U.S. Treasury 

obligations or repurchase agreements collateralized by U.S. Treasury securities. 3

Weekly liquid assets Means:

(i) Cash; 

(ii) Direct obligations of the U.S. Government; 

(iii) Government securities that are issued by a person controlled or supervised 

by and acting as an instrumentality of the government of the United States 

pursuant to authority granted by the Congress of the United States that: (A) Are 

issued at a discount to the principal amount to be repaid at maturity without 

provision for the payment of interest; and (B) Have a remaining maturity date of 

60 days or less.

(iv) Securities that will mature (as determined without reference to the 

exceptions in paragraph (i) of 29 CFR 270.2a-7 regarding interest rate 

readjustments), or are subject to a demand feature that is exercisable and 

payable, within five business days; or

(v) Amounts receivable and due unconditionally within five business days on 

pending sales of portfolio securities.

 2 See Money Market Fund Reform; Amendments to Form PF, Investment Company Act Release No. 31166 (July 23, 2014), available 

at https://www.sec.gov/rules/final/2014/33-9616.pdf.

3 Id.