Assets of money market mutual funds slipped 0.2%, to $650.69 billion,
The decline hit all categories of assets: taxable and tax-exempt funds
On the retail side, money market fund assets fell to $460.03 billion,
Taxable retail funds held $364.01 billion, a $116.6 million decline,
Assets of institutional funds slipped $914.4 million, to $190.65
That includes $166.66 billion of taxable institutional funds, off $470.2
The institute, Washington-based trade group for the mutual fund
Strong consumer spending and cross-border activity drove an 8% increase in Visa's total payments volume during the first quarter of the year, although Asia's economic recovery is taking longer than expected.
Mastercard launches service to fight instant-payment fraud, EU may green-light Apple's NFC-access plan, and more.
The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
