The Treasury Department will expand its money-market fund guarantee program to include funds that maintained a stable net asset value or share price greater than $1 on Sept. 19.
Previously, funds that maintained a stable net asset value or share price of $1 were eligible for the program.
The change comes due to a “technical correction,” according to a Treasury news release from the department. The deadline for the newly eligible funds is 11:59 p.m. EDT Friday. Funds that previously qualified have a deadline of 11:59 p.m. EDT today to enroll in the program.
The Treasury’s Temporary Money Market Fund Guarantee program was announced Sept. 19 after the net asset value of two money-market funds fell below $1.
