MONEY MARKET FUND Definition

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MONEY MARKET FUND is a fund that invests in various short-term debt instruments, i.e., commercial paper, negotiable certificates of deposit, bankers acceptances, Treasury bills, etc. Shares seek to maintain a net asset value of $1 but the interest rate changes daily.

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BANK FOR INTERNATIONAL SETTLEMENTS (BIS) is the central bankers' bank based in Basle, Switzerland.

YEAR-END is the end of an accounting period; usually a calendar year, but may be a fiscal year. Books are closed at year-end.

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