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Rating:SunTrust Sinks $1.4 Billion into Two of its Money Market Funds Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, December 21, 2007

SunTrust Sinks $1.4 Billion into Two of its Money Market Funds

by: Armie Margaret Lee

SunTrust Banks is pouring $1.4 billion into two of its money-market funds to prevent SIV-related losses, the Associated Press reported. Atlanta-based SunTrust will buy $1.4 billion of securities issued by SIVs from its STI Classic Prime Quality Money Market Fund and the STI Classic Institutional Management.  

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