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Temporary Guarantee Program for Money Funds

October 02, 2008

By The Investment Management Practice Group

Executive Summary

The following is an Executive Summary of certain of the relevant provisions of the U.S. Treasury Departments Temporary Guarantee Program for Money Market Funds. For more information please contact the Paul Hastings Attorneys below.

Key Points

Eligibility only registered open-end funds that have adopted a policy of maintaining a stable $1 net asset value or share price and that operate in compliance with Rule 2a-7 are eligible to participate in the program. The Fund must make an election to participate in the Program by October 8, 2008. Only Funds with a market-based NAV of at least $0.995 as of September 19, 2008, are eligible to participate in the Program.

Practice Areas


Contributors

Image: Jacqueline A. May
Jacqueline A. May
Of Counsel, Corporate Department
Image: Michael R Rosella
Michael R Rosella
Partner, Corporate Department
Image: Arthur L Zwickel
Arthur L Zwickel
Partner, Corporate Department
Image: David A Hearth
David A Hearth
Partner, Corporate Department