Reuters writes "Executives Doubt U.S. Support on Money Fund Plan". The article says, "U.S. regulators are not likely to adopt a high-profile plan to protect money market mutual funds with an emergency liquidity facility, top fund company executives said. Major U.S. fund companies in January had proposed creating the liquidity facility to backstop the $2.6 trillion money fund industry during times of stress. The facility would have been funded with fees on fund sponsors. But that plan now seems to have little support, said Gregory Johnson, new chairman of industry trade group The Investment Company Institute, in an interview late on Monday.... Johnson and other company leaders acknowledged regulators have expressed doubts about the industry liquidity facility plan, including whether the funds could build capital quickly enough when interest rates are low. Johnson said the changes the SEC has already made are probably enough to stabilize the funds, but said regulators may still seek more new rules. Currently, he said, "Everything is on the table.""

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