THE USSEC AUTHORIZED FRANKLIN TEMPLETON TO USE THE IMF FOBXX TO MANAGE THE FUND'S CASH

ON 13 AUGUST, THE INVESTMENT MANAGEMENT DEPARTMENT OF THE UNITED STATES SEC SENT A NO-ACTION LETTER TO FTDA US UNDER THE FLAG OF FRANKLIN DAMPTON, ALLOWING ITS REGISTERED FUNDS TO USE THE CHAINED MONEY MARKET FUND FOBXX FOR CASH MANAGEMENT, INCLUDING AS COLLATERAL FOR SECURITIES LENDING. THE EXEMPTION ALLOWS FRANKLIN TEMPLETON TO HOST AND RECORD OWNERSHIP OF THE FUND ' S SHARE THROUGH THE BLOCK CHAIN SYSTEM, WITHOUT THE NEED TO FOLLOW THE OLD RULES, WHICH WERE PARTLY FOR PHYSICAL SECURITIES. FRANKLIN TEMPLETON INDICATED THAT THE STRUCTURE SUPPORTED DAY-TO-DAY TRANSACTIONS, CALCULATION OF NET VALUE (NAV) PER HOUR AND FASTER TRANSACTION PROCESSING。