Schwab opts for guaranty program
All Schwab money market funds will participate in the temporary guaranty program for money funds announced by the Department of the Treasury on Sept. 19.
All Schwab money market funds will participate in the temporary guaranty program for money funds announced by the Department of the Treasury on Sept. 19, according to a statement today from Charles Schwab & Co. Inc. of San Francisco.
The U.S. Dollar Liquid Assets Fund is not eligible to participate in the program because it is not a U.S.-based money fund.
Despite its participation in the program, Schwab money market funds continue to meet their two primary objectives: to maintain a $1 net asset value and to continue to meet all daily redemption requests by clients, according to the statement.
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