Tuesday, December 14, 2010

AFP Joins Coalition Opposing a Floating NAV for Money Market Funds

By Brian Kalish of Association for Financial Professionals

AFP is joining a broad-based corporate effort to protect the ability of money market funds to operate with a stable $1.00 net asset value (NAV). In a forthcoming comment letter to the Securities and Exchange Commission (SEC), AFP will repeat its opposition to proposals that could undermine the usefulness of money market funds by requiring them to use a floating NAV.

"American business will lose one its most important sources of short-term funding if money market funds are forced to abandon their stable per-share value," reads the letter.

The comment letter will be signed by AFP along with the U.S. Chamber of Commerce, Financial Executives International (FEI), and the National Association of Corporate Treasurers. All four groups are encouraging their members to join in this effort by signing the letter as individual companies.

Corporate finance professionals depend on money market funds as key instruments for cash management and short-term investing. The stable $1.00 NAV provides key accounting and tax benefits for cash managers, and is required by many companies' treasury policies. Forcing these funds to adopt a floating NAV would gravely harm their usefulness and drive away investors. Shrinking money market funds would harm corporate financing in turn, as these funds purchase approximately one-third of corporate commercial paper.

Wednesday, November 17, 2010

MMX 2011 is here!

MMX 2011 is here! Join us at the Peabody Hotel in Orlando, FL, March 14-16, for a new Money Market Expo!

As you have responded to changes in the market, we have responded to meet your evolving needs. We recognize that budgets are tight and your time is valuable, so we are combining our two money fund conferences, MMX and Money Fund Forum, into a single, high-quality, high-impact event. Combining these signature events enables us to offer you all the content and networking opportunities you need for the price of a single conference. Get the most value for your dollar by attending the only money fund event that matters!

The 13th Annual MMX will offer you everything you get from two annual conferences under one roof, and for one price! Our exciting program features new topics, new outlooks, and new solutions to your biggest challenges.

NEW at Money Market Expo:

  • Investors’ Summit: A full day of face-to-face time with Corporate Treasurers discussing their liquidity strategies and the role money markets continue to play in their plans.
  • Stump the Stars! : An interactive panel that allows you to control the conversation. Send topic suggestions before the conference, or come prepared to ask them the hard questions live.
  • Focus on New Products and Future Growth: Discover new money market products, brainstorm ideas to increase your profit despite the low yield environment, and beat competing bank products!
  • Meet investors from: IBM, Global Payments, Racetrac Petroleum, Westlake Chemical, and more

Thursday, January 21, 2010

State Issuer Joins Money Market Expo

MMX and iMoneyNet announce the addition of a new speaker to MMX

Marjorie E. Henning, General Counsel, New York City Office of Management and Budget

Will be joining the following panel:

Special Tax-Exempt Breakout Discussion

This one-hour session, during the Main Conference day March 8 2.00 pm, will provide a general market update and an issuer view towards variable rate debt going forward.

Confirmed Speakers:

Mary Jo Ochson, Chief Investment Officer – Municipal Money
Markets, Federated Investors
Adam Rudner, Director, Citigroup Global Markets Inc.
Ben Schuler, Municipal Research Analyst, Fidelity Investments

More Restrictions, Dazed and Confused Tax Payers

That man standing behind President Barack Obama? That's Paul Volcker. So now what happens to Money Funds and who will be the next systemic regulator?

My bets are on the Fed.

President Obama is harnessing taxpayer anger about banks to push more restrictions.

Friday, January 8, 2010

Announcing New Speaker: Burcu Duygan-Bump, Senior Financial Economist, Federal Reserve Bank -- Boston

Special Speaker: BURCU DUYGAN-BUMP, Senior Financial Economist, FEDERAL RESERVE BANK -- BOSTON

Ms. Duygan-Bump will give a speech delineating the AMLF outcomes, starting with a description of who used them, and then following up with how they were used, and a description of their changing characteristics over time. The talk will end with a 30-minute question and answer period with the delegates. Times will be announced shortly. Please stay tuned.

For more information and to register for the forum, please visit the 12th Annual Money Market Expo, which takes place March 8-10, 2010 in Orlando, Florida.