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MMF Exposure to Eurozone Banks Fell by 33%

FitchRatings recently reported that money market fund exposure to eurozone banks fell by 33% from May to June and, as of the end of June, represent roughly 8% of total money market fund assets in Fitch's sample, a record low since the end of 2006 when Fitch began tracking these figures.  According to Fitch, declining money market fund allocations to eurozone banks are at least partly a reflection of ongoing investor concern about the region. Another sign of risk aversion is that holdings of short-term U.S. Treasurys and agencies continue to exceed 20% of money market fund assets.  Additional information about money market fund exposures can be found in the report, a copy of which is attached here.

 

 

 
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