Economy

Treasury Extends Mutual Fund Guarantee Program

 

WASHINGTON -- The government is extending its Temporary Guarantee Program for Money Market Funds which is used to bolster the money-market mutual fund industry.

The Treasury Department says the program, which provides guarantees for the popular investment products, will now run until April 30, 2009. The program had been slated to expire on Dec. 18.

The department says it is taking the action "to support ongoing stability in this market."

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Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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