While the U.S. Senate plans to considers legislation today thatwould extend unlimited coverage for certain bank accounts foranother two years, a survey shows that if that coverage expires,companies plan to shift considerable sums out of bank accounts.

An Association for Financial Professionals survey of more than1,300 corporate finance professionals shows that 51% say they wouldshift some balances out of bank accounts if the Transaction AccountGuarantee (TAG) program providing unlimited coverage fornon-interest-bearing accounts expires as scheduled on Dec. 31. Thecompanies that plan to move money would shift a median of 20% oftheir deposits.

The most likely new homes for those assets are money marketfunds and Treasury or agency securities, according to the AFPsurvey. Forty-two percent of the companies say they would move someof the money into Treasury-based money market funds, 41% intoTreasury or agency securities, 36% into prime money market fundsand 20% into repos.

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