May 6, 1992
TO: MONEY MARKET FUNDS AD HOC COMMITTEE NO. 7-92
RE: INSTITUTE LETTER TO SEC ON TECHNICAL ISSUES UNDER RULE 2a-7
__________________________________________________________
The Institute submitted the attached letter to the SEC
staff requesting clarification on the treatment and analysis
under Rule 2a-7 of securities subject to guarantees or other
forms of unconditional credit support provided by issuers that
themselves have outstanding short-term debt. The letter is
substantially similar to the draft that was recently circulated,
except for several minor changes. (See Memorandum to Money
Market Funds Ad Hoc Committee No. 6-92, dated April 23, 1992.) I
appreciate the assistance provided by members of the Committee in
preparing this letter.
I will keep you informed of developments on this issue.
Amy B.R. Lancellotta
Associate General Counsel
Attachment