The SEC adopted an interim final temporary rule on November 20, 2008, to provide money market funds participating in the Treasury Department's $50 billion temporary guaranty program relief from certain provisions under the Investment Company Act of 1940.

In Release No. IC-28487, Temporary Exemption for Liquidation of Certain Money Market Funds, the SEC is adopting Rule 22e-3T to provide an exemption that allows funds taking part in the guaranty program to temporarily suspend redemptions of their outstanding shares and postpone the payment of redemption proceeds. The exemption includes a procedure for liquidating money funds in certain circumstances.

Comments on the proposal are due 30 days after publication in the Federal Register, which usually occurs a few days after its publication on the SEC's website. The rule is effective until October 18, 2009.