The Treasury Department has extended until April 30, 2009 its program to guarantee the NAV of money market funds that elect to participate in the program. Absent the extension, the program, which commenced as of September 19, 2008, would have expired after its initial three month term. Even with the extension, however, investors will only be protected to the extent of their investment in the fund as of September 19.
Only money market funds that are currently participating in the program are eligible to participate in the extension. To participate in the extension, a fund must submit an "extension notice" to the Treasury Department by December 5, 2008, and a prescribed "extension payment" must be made. Also, the money market fund's board must approve the fund's participation in the extension. For these and other requirements to participate in the extension, see the Treasury Department's announcement at http://www.treas.gov/press/releases/hp1290.htm and the link contained in that announcement to the Treasury Department's more detailed publication.