July 17, 2013 / 12:36 PM / 4 years ago

U.S. prime money funds cut European exposure in June -JPMorgan

NEW YORK, July 17 (Reuters) - U.S. prime money market funds reduced their holdings of European bank debt in June as investors favored government securities over money funds at quarter-end, according to a report by JPMorgan Securities released on Wednesday.

Prime money funds' exposure to euro zone banks fell by $18 billion to $200 billion last month. Since the end of 2012, the funds have trimmed their holdings of that region's bank paper by $2 billion, JPMorgan said.

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