Why Didn’t Vanguard, the Largest Mutual Fund Family in the U.S., Need to Borrow from the Fed while the Wall Street Titans Did?
By Pam Martens and Russ Martens: April 19, 2022 ~ For the past week, Wall Street On Parade has been crunching the cryptic data released by the Federal Reserve on March 31 that named the mutual funds that couldn’t meet redemption requests in their money market funds in March and April of 2020 without tapping loans from the Fed. As we reported yesterday, the Fed loaned a cumulative total of $162.9 billion from its Money Market Mutual Fund Liquidity Facility (MMLF) in March and April of 2020 with 72 percent of that total going to just six mutual fund families: Federated $27.75 billion; JPMorgan $24.8 billion; Morgan Stanley $19.55 billion; UBS $17.3 billion; Wells Fargo $15.5 billion; and BlackRock $11.98 billion. There are two striking aspects to this story. First, no mainstream media outlet will go near the story. The same media outlets that battled the Fed in court for more … Continue reading →
Source: http://silveristhenew.com/2022/04/19/why-didnt-vanguard-the-largest-mutual-fund-family-in-the-u-s-need-to-borrow-from-the-fed-while-the-wall-street-titans-did/
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