Print Print edition: 2011-12-22

US money funds turn to European bank repos: Fitch

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US money market funds, nervous about the eurozone debt crisis, are making more loans to eurozone banks in the form of short-dated repurchase agreements secured by the safest collaterals, Fitch Ratings said on Wednesday. Repurchase agreements (repos) made up 27pc of the 10 biggest US prime money market funds'' total European exposure at the end of November.