October 24, 1991
TO: TAX COMMITTEE NO. 34-91
MONEY MARKET FUNDS AD HOC COMMITTEE NO. 25-91
Michael P. Buckley, T. Rowe Price
J. Rick Cahill, Prudential Investment Corp.
Marie Comber, SEI Financial Services
Jim DiBiase, Scudder, Stevens and Clark
Robert Glassman, Dean Witter Reynolds InterCap.
Mark Goldfus, Merrill Lynch Asset Management
Richard W. Ingram, The Boston Company
Louis Kalavritinos, Calvert Group
Frank E. Marley, Jr., USAA
Deborah Pege, Fidelity Management & Research
Marc Rockower, Prudential Insurance Co. of America
Gifford R. Zimmerman, John Nuveen & Co., Inc.
RE: MEMORANDUM ON TAXATION OF SYNTHETIC TAX-EXEMPT INSTRUMENTS
__________________________________________________________
Attached is the revised version of the memorandum on the
treatment of synthetic, short-term tax-exempt securities under
Subchapter M. Any comments or suggestions on the memorandum
should be directed to me at (202) 955-3521. In addition, please
let me know if you think that another meeting would be helpful.
David J. Mangefrida, Jr.
Assistant Counsel - Tax
Attachment
DJM:bmb