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Unlike depositories, but not, MMMFs didn't come with financial support, no deposit insurance policies, and-about commercially-zero entry to the financial institution of last resort Into the newer period, the newest part of your FHLBs is far more advanced and needs a conclusion out-of a couple biggest regulating shifts: the SEC's change of cash markets mutual finance (MMMFs), while the introduction of the fresh liquidity requirements having banking institutions. Keep in mind one to adopting the Lehman's failure in the during the 2008, investors began to flee away from MMMFs. To prevent brand new manage, the newest You.S. Treasury secured all $3.8 trillion into the a fantastic MMMF debts. (more…)