Money Market Mutual Funds, like the ones you and I have in our brokerage account, are clearly drawing an increasing level of supervision by the Federal Reserve Board.

The Fed was established a century ago to oversee the operations of traditional commercial banks. And for 97 years that was the Fed's only focus. But as a result of the Great Financial Crisis of 2008, Congress mandated that the Fed take on the responsibility of supervising non-bank institutions.

Such non-bank institutions, when operating in the money markets include: Insurance Companies, Pension Funds, Private Investment Funds, and of course, our Money Market funds.