Crane Data's latest monthly Money Fund Portfolio Holdings statistics will be released later today, and we'll be writing our normal monthly update on the Jan. 31 data for Wednesday's News. But we also generate a separate and broader Portfolio Holdings data set based on the SEC's Form N-MFP filings, and we posted these to the website yesterday. (We continue to merge the two series, and the N-MFP version is now available via Holding file listings to Money Fund Wisdom subscribers.) Our new N-MFP summary, with data as of Jan. 31, 2020, includes holdings information from 1,082 money funds, representing assets of a record $4.031 trillion (up from $4.016 trillion last month). MMFs totaled over $4.0 trillion for the first time ever last month. We review the latest N-MFP data below.

Our latest Form N-MFP Summary for All Funds (taxable and tax-exempt) shows Repurchase Agreement (Repo) holdings in money market funds totaling $1,308 billion (up from $1,243 billion), or 32.5% of all assets. Treasury holdings total $1,038 billion (down from $1,123 billion), or 25.7%, and Government Agency securities totaled $787.7 billion (down from $828.7 billion), or 19.5%. Holdings of Treasuries, Government agencies and Repo (the vast majority of which is backed by Treasuries and agencies) combined total $3.134 trillion, or 77.7% of all holdings.

Commercial paper (CP) totals $340.3 billion (up from $323.0 billion), or 8.4%, and Certificates of Deposit (CDs) total $295.3 billion (up from $269.6 billion), or 7.3%. The Other category (primarily Time Deposits) totals $163.9 billion (up from $127.9 billion), or 4.1%, and VRDNs account for $98.2 billion (down from $100.7 billion last month), or 2.4%.

Broken out into the SEC's more detailed categories, the CP totals were comprised of: $226.9 billion, or 5.6%, in Financial Company Commercial Paper; $59.4 billion or 1.5%, in Asset Backed Commercial Paper; and, $54.0 billion, or 1.3%, in Non-Financial Company Commercial Paper. The Repo totals were made up of: U.S. Treasury Repo ($798.7B, or 19.8%), U.S. Govt Agency Repo ($447.1B, or 11.1%) and Other Repo ($62.3B, or 1.5%).

The N-MFP Holdings summary for the 222 Prime Money Market Funds shows: CP holdings of $334.2 billion (up from $317.0 billion), or 29.8%; CD holdings of $295.3 billion (up from $269.6 billion), or 26.3%; Repo holdings of $213.1 billion (down from $243.9 billion), or 19.0%; Other (primarily Time Deposits) holdings of $113.1 billion (up from $77.6 billion), or 10.1%; Treasury holdings of $91.1 billion (down from $101.3 billion), or 8.1%; Government Agency holdings of $69.1 billion (down from $75.4 billion), or 6.2%; and VRDN holdings of $5.3 billion (down from $5.4 billion), or 0.5%.

The SEC's more detailed categories show CP in Prime MMFs made up of: $226.9 billion (up from $214.0 billion), or 20.2% in Financial Company Commercial Paper; $59.4 billion (down from $61.3 billion) or, 5.3% in Asset Backed Commercial Paper; and $47.9 billion (up from $41.8 billion), or 4.3% in Non-Financial Company Commercial Paper. The Repo totals include: U.S. Treasury Repo ($79.0 billion, or 7.0%), U.S. Govt Agency Repo ($71.8 billion, or 6.4%), and Other Repo ($62.3 billion, or 5.6%).

In other news, rates on money market funds were slightly up in the latest week while brokerage sweep accounts remained flat. Our Money Fund Intelligence Daily shows the flagship Crane 100 MF Index up a basis point at 1.43%. The Crane 100 is down from 1.81% on Sept. 30 and down from 2.18% on June 30. It is down 80 bps from the beginning of 2019 (2.23%), but up from its near low of 0.06% ten years ago (12/31/09). The Crane Brokerage Sweep Index, which is currently 0.12%, is up 7 bps from ten years ago (0.05%) and down 16 bps from the end of 2018 (0.28%). Our latest Brokerage Sweep Intelligence, with data as of Friday, Feb. 7, shows no major brokerages changed rates in the past week.

The Crane Money Fund Average, which includes all taxable funds tracked by Crane Data, shows a 7-day yield of 1.31%, up a basis point in the week through Friday, Feb. 7. Treasury Inst MFs and Government Inst MFs were also both up a basis point at 1.33% and 1.39%, respectively. Prime Inst MMFs were flat in the latest week, holding at 1.52%. Treasury Retail MFs currently yield 1.06%, (up 1 bps), Government Retail MFs yield 1.07% (up 1 bps), and Prime Retail MFs yield 1.35% (unchanged), Tax-exempt MF 7-day yields increased 0.06% to 0.61%.

Crane's Brokerage Sweep Index remained flat at 0.14% in the week ended February 7 (for balances of $100K. E*Trade and TD Ameritrade currently have the lowest rate for balances at the $100K level (0.01%). Meanwhile, Fidelity continues to have the highest sweep rate (0.82%). (Fidelity also has a higher-yielding money fund option for new accounts.) Morgan Stanley is paying 0.03%. UBS, Merrill, Raymond James and Wells Fargo are all paying 0.05%, and Schwab is paying 0.06%. Ameriprise is paying 0.08% and RW Baird is paying 0.33% for balances of $100K.

Our MFI Daily, with data as of February 7, shows money fund assets have risen $5.7 billion over the past week to $3.931 trillion. Prime assets were up $10.3 billion, while Government assets were down by $4.2B. Tax-Exempt MMFs decreased $453 million. The MFI Daily also shows money fund assets up $5.7 billion month-to-date to $3.931 trillion. Prime assets are up $10.3 billion MTD, while Government assets are down by $4.2B. Tax-Exempt MMFs decreased $453 million. Prime and Government MF assets were up $378.7 billion and $492.6 billion in 2019, respectively.

For more, see our latest Brokerage Sweep Intelligence, or see these Crane Data News articles: Concerns Remain about Brokerage Cash Says Investment News; Sweeps (2/4/20), FINRA Fallout: More on Sweeps, Fin-Tech Cash Accounts by ignites, FP (1/22/20), Finra Latest To Scrutinize Sweeps (1/15/20), Ignites on UBS Sweep Changes (12/9/19), More on Regulators and Sweeps (11/25/19) and SEC Warns on Cash Sweeps (11/12/19).

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