US Treasury ends money market guarantee

us-treasury

The US Treasury withdrew its guarantee for money market funds on Friday. The move is seen as part of the US exit strategy, intended to facilitate a smooth transition from its response to the crisis, to normal conditions.

"As the risk of catastrophic failure of the financial system has receded, the need for some of the emergency programs put in place during the most acute phase of the crisis has receded as well," said Tim Geithner, the US Treasury secretary.

The programme, which covered $3 trilli

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