April 23, 1992
TO: MONEY MARKET FUNDS AD HOC COMMITTEE NO. 6-92
RE: REVISED DRAFT LETTER ON THE TECHNICAL ISSUE RAISED UNDER
RULE 2a-7
__________________________________________________________
In view of the comments that I received on the February 13
draft letter on the status and, in some cases, the treatment
under Rule 2a-7 of securities subject to unconditional guarantees
provided by issuers who themselves have rated short-term debt, I
am circulating a revised draft of the letter. The most
significant change is on page 4, where a new paragraph has been
added to express the Institute's view on how such instruments
should be treated under Rule 2a-7.
Please provide me with your comments on the revised letter
by May 1. My direct number is 202/955-3523.
Amy B.R. Lancellotta
Associate General Counsel
Attachment