Corporate cash seeks new home as money-market reforms loom
It seems too good to be true – at a time when banks are increasingly hungry for deposits to meet the demands of Basel III’s twin liquidity ratios, their corporate customers are considering pulling billions of dollars of cash out of money-market funds and finding a new home for it. The funds are being revamped in a way that could remove their three big attractions for treasurers – capital protection, daily liquidity and the ability to account for the investments as cash on corporate balance
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