Municipal money market funds are struggling as the compliance date for the 2014 money market fund reforms approaches. Bloomberg reports that assets in these funds have fallen to the lowest level since 1999 as investors move into government money market funds, which will not be subject to the new rules. The funds’ struggles are compounded by the Fed’s zero interest rate policy. According to Peter Crane of Crane Data, these funds are “in danger of going extinct, especially if you don’t get a rate hike anytime in the next couple of years.” The funds are not the only entities struggling as a result of the impending rule changes. According to the Wall Street Journal, municipalities are also feeling the effects of the rules through increased borrowing costs.