Money Market Investor Funding Facility (Fed)

The Money Market Investor Funding Facility (Fed)

MMIFF was to provide liquidity to money market mutual funds to help them meet any redemption requests and other obligations. Investors had fled money market mutual funds following the failure of Lehman Brothers, but the structure of the MMIFF was seen as “cumbersome” by investors. The program was terminated on Oct. 30, 2009. No funds were ever used.

Funding agency and aid type
The funding agency was the Federal Reserve.

Credit line for liquidity for money market mutual funds.

Who benefits
Investment banks funning money market mutual funds.

Related SourceWatch articles

 * SIGTARP Quarterly Report to Congress July 21, 2009
 * Troubled Asset Relief Program

External resources

 * FRBNY homepage: http://www.newyorkfed.org/markets/mmiff.html
 * FRBSTL accounting: http://www.research.stlouisfed.org/fred2/series/WMMIFF