Reporting forms

FR 2051a

Money Market Mutual Fund Assets Report

Description: The Investment Company Institute (ICI), the trade organization for mutual funds, collects and provides data weekly to the Federal Reserve on total net value of outstanding shares (total assets less expenses and management fees) of money market mutual funds (MMMFs).

OMB: 7100-0012

Purpose: The data are used by the Federal Reserve to construct the M2 monetary aggregate and to analyze money market conditions and developments in the banking industry.

Background: The redefinition of the monetary aggregates in 1980 to include the shares of MMMFs created the need for a timely and reliable flow of data on total net assets and the portfolio composition of MMMF holdings. The ICI began collecting data from its member MMMFs and providing it to the Federal Reserve in January 1981. The reports and their content have changed over the years as the needs of the Federal Reserve changed. Initially, ICI collected the total net value of outstanding shares weekly through a telephone survey (FR 2051a) of all of its member taxable MMMFs. Data on portfolio composition were collected through a monthly mail survey (FR 2051b). Because of the rapid growth of MMMF shares and the difficulty in estimating the investment holdings of these funds, the Federal Reserve developed the FR 2051c to collect weekly information on the value of total shares and holdings of repurchase agreements (RPs) and CDs from a sample of MMMFs. The Federal Reserve later instituted the FR 2051d to collect weekly data on MMMF holdings of overnight Eurodollars. In the late 1990s, the Federal Reserve simplified the FR 2051b and ultimately discontinued FR 2051c and d. Most recently, in March 2006, the Federal Reserve ceased publication of the M3 monetary aggregate. As a result, the collection of end-of-month data on total net assets and on asset holdings from a sample of large MMMFs was no longer necessary, and the monthly FR 2051b was discontinued in April 2007.

Respondent Panel: The FR 2051a panel consists of all MMMFs that are ICI members. Reporting is voluntary.

Frequency: The ICI conducts the FR 2051a weekly survey as of each Wednesday.

Public Release: The monetary aggregates are published in the weekly H.6 statistical release, Money Stock Measures (http://www.federalreserve.gov/releases/) and are in tables 1.10 and 1.21 in the Statistical Supplement to the Federal Reserve Bulletin (also on the Board's web site). Retail and institutional MMMF data, along with IRA/Keogh balances held at MMMFs, are also published as separate items in the H.6 release.

 
Last update: April 25, 2007