The 2008 money market crisis

Timeline

2008
September 15, 2008
 * Lehman Brothers Holdings Inc. Announces It Intends to File Chapter 11 Bankruptcy Petition

September 17, 2008
 * Reserve Primary Fund "​Breaks the Buck" Following Run on Assets

September 18, 2008
 * Professional Money Fund Is Closed by Putnam

September 19, 2008
 * FRB Press Release
 * Asset Backed Commercial Paper (ABCP) Money Market Mutual Fund (MMMF) Liquidity Facility (AMLF or "the Facility")

September 24, 2008
 * Federated Investors, Inc. and Putnam Investments Announce Transaction to Benefit Money Market Fund Shareholders, Press Release

September 29, 2008
 * Treasury Announces Temporary Guarantee Program for Money Market Funds
 * Frequently Asked Questions About Treasury’s Temporary Guarantee Program for Money Market Funds
 * Treasury Guarantee Program for Money Funds Live, Fee Is One Bps
 * "Important Notice Regarding Reserve Primary Fund", Press Release

'''October 2. 2008'''
 * "Important Notice to Reserve Funds Investors", Press Release

October 6, 2008
 * Commercial Paper Funding Facility: Frequently Asked Questions

October 9, 2008
 * Virtually All Money Fund Families Now Covered by Treasury Guaranty

October 21, 2008
 * Fed Announced Money Market Investor Funding Facility (​MMIFF)
 * Frequently Asked Questions about the Money Market Investor Funding Facility

October 24, 2008
 * SEC Grants Order to the Reserve Yield Plus Fund

October 27, 2008
 * A Statement Regarding The Reserve Funds

October 30, 2008
 * "Reserve Primary Fund Makes Initial Distribution of $26 Billion to Primary Fund Shareholders", Press Release

November 4, 2008 November 18, 2008
 * ICI Establishes Money Market Working Group
 * "Reserve Funds Update"
 * Federal Reserve Board of New York - Money Market Investor Funding Facility: Frequently Asked Questions

November 20, 2008
 * Commentary: The Credit Crisis: U.S. Government Actions and Implications for Cash Investors

November 24, 2008
 * Treasury Announces Extension of Temporary Guarantee Program for Money Market Funds

November 26, 2008
 * Important Notice Regarding Reserve Primary Fund’s Net Asset Value

December 3, 2008
 * Reserve Primary Fund Makes Second Distribution of $14.4 Billion to Primary Fund Shareholders

December 5, 2008
 * Reserve Yield Plus Fund Update

December 19, 2008
 * Vanguard Closes Two Money Market Funds

December 23, 2008
 * Fidelity announces closure of Treasury Money Market Funds to new accounts

December 24, 2008
 * The Primary Fund A Statement Regarding Special Reserve Under the Plan of Liquidation

2009
January 15, 2009
 * Reserve Fraud Started After SEC Call, Galvin Says News Report

January 16, 2009
 * Reserve U.S. Government Fund Distributes Remaining Assets to Shareholders

January 26, 2009
 * Vanguard's Treasury money market funds are closed to new accounts as yields tumble
 * Reserve Interstate Tax-Exempt Fund Makes Initial $354 Million Distribution

January 30, 2009
 * Reserve International Liquidity Fund Ltd. Makes Initial $1.875 Billion Distribution

February 4, 2009
 * Reserve New Jersey Municipal Money-Market Fund Makes Final $12.8 Million Distribution

February 6, 2009
 * Reserve Florida Municipal Money-Market Fund Makes Final $1.95 Million Distribution

February 13, 2009
 * Reserve New York Municipal Money-Market Fund Makes Final $919,000 Distribution
 * Reserve California Municipal Money-Market Fund Makes Final $1.18 Million Distribution

February 20, 2009
 * Reserve Primary Fund Makes Third Distribution of $3.4 Billion to Primary Fund Shareholders

February 26, 2009
 * A Statement Regarding Special Reserve Under The Plan of Liquidation
 * A Statement Regarding Special Reserve Under The Plan of Liquidation Reserve Yield Plus Fund Makes Second Distribution of $185 Million

March 13, 2009
 * Reserve Interstate Tax-Exempt Fund Fully Liquidates

March 18, 2009
 * Mutual Fund Leaders Endorse Reforms to Strengthen Money Market Funds and the Money Market
 * Banks Should Be Regulated Like Money Funds Says Bullard in Testimony

March 20, 2009
 * Jack Brennan discusses industry-wide money market reform effort

March 26, 2009
 * Reserve Municipal Money-Market Trust II (the “Trust”) Plan of Liquidation and Distribution of Assets

March 27, 2009
 * Additional Information Regarding the Reserve Yield Plus Fund
 * Additional Information Regarding the Reserve Primary Fund

April 17, 2009
 * Reserve Primary Fund Makes Fourth Distribution of $2.3 Billion to Primary Fund Shareholders

June 3, 2009
 * Vanguard Merges Treasury Money Funds, Closes Federal Money Market

September 18, 2009
 * Treasury Announces Expiration of Guarantee Program for Money Market Funds

September 22, 2009
 * Reserve Primary Fund to Make Fifth Distribution of $1 Billion to Primary Fund Shareholders

2010
February 1, 2010
 * Commercial Paper Funding Facility (CPFF) expires
 * Money Market Mutual Fund (MMMF) Liquidity Facility (AMLF) expires

February 24, 2010
 * SEC Money Market Fund Reform