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[NEW YORK] US money market funds own small holdings of debt issued by Deutsche Bank AG as traders speculate about its future after the US Justice Department imposed a US$14 billion fine for its misselling of mortgage-backed securities.
The tiny holdings of Deutsche Bank short-term debt diminishes the likelihood of repeating the massive sale of Lehman Brothers' securities by money funds to meet heavy redemption amid the collapse of the US investment bank during the global credit crisis eight years ago.
At the end of August, prime money market funds, which had US$1 trillion in assets, held US$2.7 billion of Deutsche Bank securities, according to data compiled by the US Office of Financial Research.