break the buck

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English[edit]

Etymology[edit]

Break (as in break the bank) + the + buck (dollar (colloquial)).

Verb[edit]

break the buck (third-person singular simple present breaks the buck, present participle breaking the buck, simple past broke the buck, past participle broken the buck)

  1. (US, idiomatic, finance, of a money-market fund) Fall below the value of one dollar per share.[1]
    • 2000: Charles A. Jaffe, Chuck Jaffe’s Lifetime Guide to Mutual Funds: An Owner’s Manual, page 110 (Perseus Books Group; ISBN 0738202738, 9780738202730)
      In 1994, during the Orange County bankruptcy, a few funds were poised to break the buck, until their parent companies stepped in.
    • 2008, "Money-Market Funds Get $50 Billion Backstop From US (Update1)", Bloomberg, Sep 19, 2008
      "We were likely going to see more funds halt redemptions" and break the buck. The insurance program is part of a wider rescue package […]

References[edit]

  1. ^ break the buck” listed on page 261 of The SmartMoney Guide to Long-Term Investing, Nellie S. Huang, Peter Finch, and James B. Stewart (2002; John Wiley and Sons; ISBN 0471274925, 978-0471274926)