Corporate treasury executives say they will decrease their company's investments in money-market funds if the Securities and Exchange Commission implements proposed changes to the regulation of such funds. But they plan to invest more in money funds if the Federal Deposit Insurance Corp.'s unlimited coverage for business demand deposit accounts ends, as it is scheduled to do on Dec. 31, according to a survey of 242 treasury professionals conducted by Strategic Treasurer, an Atlanta-based consulting company, and Capital Advisors Group, an investment advisor in Red Bank, N.J.

“There is certainly terrific uncertainty with the FDIC and the money-market funds regulations, but it appears the treasury community is ready and able to swap investment channels in either one of those instances,” says Ben Campbell, president and CEO of Capital Advisors.

Companies' investment accounts haven't changed much since 2009, when treasurers responded to the financial crisis, says Campbell, pictured at right. “Now with regulatory changes potentially happening in the money fund world as well as on the FDIC side, we see a shift similar to the size of the shifts that we saw in '08.”