Previous work has explored or referenced instances of fund sponsor support including that of Baba et al. (2009), Kacperczyk and Schnabl (2012), McCabe (2010), and Moody’s (2010). However, this paper is unique in presenting a complete data set of direct support instances and related amounts formed through a detailed review of the financial statements of all prime MMMFs. We observe that some past work has evaluated support by reviewing funds that received SEC no-action letters related to affiliate transactions. .
