po'd in Plano

Morgan Stanley Appears a Little Too Desperate for Cash

more detail on the Repo arrangement...direct from the pro-sup on the Reserve funds website:

Repurchase Agreements. Each of the Funds may invest in repurchase agreements but will limit them to those banks and securities dealers who are deemed creditworthy
pursuant to guidelines adopted by the Trustees. The U.S. Treasury Fund will further limit its investment in repurchase agreements to 5% of its total net assets, except for temporary or emergency purposes, and to those whose underlying obligations are backed by the full faith and credit of the United States. Securities subject to repurchase agreements will be segregated and will be monitored to ensure that the
market value of the securities plus any accrued interest will at least equal the repurchase price.