NEW YORK May 10 U.S. prime money market funds
slightly increased their holdings of euro zone bank debt in
April after Cyprus received a bailout to manage its bank
problems, according to a report by JPMorgan Securities released
The report showed the funds raised their ownership of euro
zone securities by $3 billion to $206 billion last month, led by
modest pickups in German and French bank debt that included
commercial paper, repurchase agreements and time deposits.
In March, these funds slashed their holdings in euro zone
bank debt by $44 billion, which was the largest monthly decline
since last June.
Renewed purchases in euro zone paper in April brought prime
funds' exposure to the region up by $4 billion since end of
December 2012, JPMorgan said.