Investors in Europe risk losing a haven as Goldman Sachs GroupInc., JPMorgan Chase & Co. and Morgan Stanley break a taboothat's stopped 88 billion euros ($113 billion) of money-marketfunds from ever losing principal.

The banks are preparing to abandon the policy that investors getone euro back for every one they put in as government bond yieldsnear record lows make it harder for the funds to generatereturns.

A money-market fund failing to repay investors in full is saidto “break the buck” and is forced to shut down. To avoid this,banks propose to change rules governing the investment vehicles sothey can pass on losses to investors by reducing the number ofshares outstanding in a fund, without closing.

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