Federated Money Market Funds
Exposure to International Debt
The Federated prime money market funds listed have exposure limited to high‐quality issuers that are subject to our stringent credit
analysis process. We continue to rely on a thorough due diligence process that includes a review of capital structure, liquidity structure,
management structure and other key factors before investing in any issuer. We are confident in our assessment and analysis of the
international issuers we have exposure to within our funds and remain comfortable with the issuers included in our approved
database. Our disciplined process includes ongoing analysis and coverage of all issuers.
Federated Prime Money Market Funds
International Debt Positions
As of February 29, 2016
Prime
Obligations
Fund
Prime Value
Obligations
Fund
Prime Cash
Obligations
Fund
Money Market
Management
Capital
Reserves
Fund
Australia
1.440%
2.348%
4.167%
3.111%
3.069%
Austria
0.000%
0.000%
0.000%
0.000%
0.000%
Belgium
0.000%
1.976%
0.000%
0.000%
2.013%
Canada
18.388%
11.357%
14.825%
12.594%
14.080%
Denmark
0.000%
0.000%
0.000%
0.000%
0.000%
Finland
0.000%
0.000%
0.000%
0.000%
0.000%
France
9.993%
8.080%
10.967%
6.293%
6.758%
Germany
4.400%
6.480%
6.696%
4.674%
7.539%
Greece
0.000%
0.000%
0.000%
0.000%
0.000%
Hungary
0.000%
0.000%
0.000%
0.000%
0.000%
Ireland
0.000%
0.000%
0.000%
0.000%
0.000%
Italy
0.000%
0.000%
0.000%
0.000%
0.000%
Japan
12.617%
14.281%
10.878%
13.421%
10.781%
Luxembourg
0.000%
2.931%
0.768%
1.196%
1.724%
Netherlands
2.289%
0.370%
2.494%
3.734%
1.163%
Norway
2.880%
2.395%
4.172%
3.739%
4.094%
Portugal
0.000%
0.000%
0.000%
0.000%
0.000%
Spain
0.000%
0.000%
0.000%
0.000%
0.000%
Sweden
1.728%
0.000%
1.280%
0.382%
0.000%
Switzerland
4.334%
2.180%
3.625%
4.798%
2.013%
5.478%
8.505%
6.470%
5.734%
11.884%
63.547%
60.903%
66.342%
59.676%
65.118%
United
Kingdom
Total
International
Bank
Exposure
The Federated municipal money market funds listed have no direct exposure to the international sovereigns shown in the table below.
Any indirect exposure is limited to municipal variable rate demand notes, commercial paper and tender option bonds with high‐quality
bank names as credit enhancement. These structured municipal securities and bank names are subject to our stringent credit analysis
process. We continue to rely on a thorough due diligence process that includes a review of capital structure, liquidity structure,
management structure and other key factors before investing in any issuer. We are confident in our assessment and analysis of the
international bank names we have exposure to within our funds and remain comfortable with the names included in our approved
database. Our disciplined process includes ongoing analysis and coverage of all issuers.
Federated Municipal Money Market Funds
International Bank Positions
As of February 29, 2016
California Municipal Connecticut Municipal
Cash Trust
Cash Trust
Florida Municipal
Cash Trust
Michigan Municipal
Cash Trust
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
1.480%
7.474%
4.703%
10.428%
14.398%
1.586%
Denmark
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
Finland
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
France
0.438%
1.147%
0.000%
0.000%
0.000%
0.000%
Germany
12.815%
9.712%
11.333%
7.934%
11.131%
0.000%
Greece
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
Hungary
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
Ireland
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
Italy
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
Japan
2.399%
2.775%
4.420%
0.000%
0.000%
11.710%
Netherlands
3.923%
0.436%
0.000%
0.000%
0.000%
0.000%
Norway
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
Portugal
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
Spain
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
Sweden
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
Switzerland
0.000%
0.827%
1.578%
0.000%
0.908%
0.000%
United Kingdom
2.698%
4.139%
0.555%
2.578%
5.331%
9.442%
Total International
Bank Exposure
23.753%
26.510%
22.589%
20.940%
31.768%
22.738%
Municipal
Obligations Fund
Tax-Free
Obligations Fund
Austria
0.000%
0.000%
0.000%
Australia
0.000%
0.000%
Belgium
0.000%
Canada
Past performance is no guarantee of future results.
An investment in money market funds is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any
other government agency. Although money market funds seek to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in these funds.
Comments as of February 29, 2016 and are subject to change based on market conditions and other factors. These views should not
be construed as a recommendation for any specific security.
Current and future portfolio holdings are subject to risk.
The holdings percentages are based on net assets at the close of business on February 29, 2016 and may not necessarily reflect
adjustments that are routinely made when presenting net assets for formal financial statement purposes.
For more complete information, visit FederatedInvestors.com or contact your Federated representative by calling 1-800-341-7400
for a summary prospectus or prospectus. You should consider the fund’s investment objectives, risks, charges, and expenses
carefully before you invest. Information about these and other important subjects is in the fund’s summary prospectus or
prospectus which you should read carefully before investing.
Federated Securities Corp., Distributor
Federated is a registered trademark of Federated Investors, Inc. 2016 © Federated Investors, Inc.
Federated Investors, Inc.
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1001 Liberty Avenue
Pittsburgh, PA 15222-3779
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1-800-341-7400
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