N-Q 1 form022810.htm FORM N-Q form022810.htm - Generated by SEC Publisher for SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT
INVESTMENT COMPANY

Investment Company Act file number 811-3207

General Money Market Fund, Inc.
(Exact name of Registrant as specified in charter)

c/o The Dreyfus Corporation
200 Park Avenue
New York, New York 10166
(Address of principal executive offices) (Zip code)

Michael A. Rosenberg, Esq.
200 Park Avenue
New York, New York 10166
(Name and address of agent for service)

Registrant's telephone number, including area code: (212) 922-6000
Date of fiscal year end: 11/30  
Date of reporting period: 02/28/10  



FORM N-Q

Item 1. Schedule of Investments.

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STATEMENT OF INVESTMENTS
General Money Market Fund, Inc.
February 28, 2010 (Unaudited)

Negotiable Bank Certificates of Deposit
--47.3%

Principal Amount ($) Value ($)
Allied Irish Banks (Yankee)    
0.56%, 4/6/10 50,000,000 50,000,000
Banco Bilbao Vizcaya Argentaria (Yankee)    
0.24% - 0.33%, 3/4/10 - 4/13/10 455,000,000 a 455,000,167
Bank of Ireland (Yankee)    
0.62%, 3/23/10 150,000,000 b 150,000,000
Bank of Nova Scotia (Yankee)    
0.30%, 8/16/10 200,000,000 200,000,000
Bank of Tokyo-Mitsubishi Ltd. (Yankee)    
0.21% - 0.24%, 3/4/10 - 4/1/10 250,000,000 250,000,000
Barclays Bank PLC (Yankee)    
0.42% - 0.55%, 3/22/10 - 5/12/10 250,000,000 250,000,000
Citibank N.A.    
0.21% - 0.35%, 5/3/10 - 8/25/10 600,000,000 600,000,000
Credit Agricole CIB (Yankee)    
0.22%, 4/19/10 200,000,000 200,000,000
Credit Industriel et Commercial (London)    
0.35%, 5/10/10 500,000,000 500,004,857
DZ Bank AG (Yankee)    
0.21%, 4/6/10 - 4/7/10 560,000,000 560,000,000
Fortis Bank (Yankee)    
0.23%, 5/10/10 185,000,000 185,000,000
ING Bank N.V. (London)    
0.23%, 5/24/10 100,000,000 100,000,000
Natixis (Yankee)    
0.28%, 4/5/10 500,000,000 500,000,000
Rabobank Nederland (Yankee)    
0.30%, 7/7/10 200,000,000 200,000,000
Royal Bank of Scotland PLC (Yankee)    
0.20%, 5/12/10 500,000,000 500,000,000
Societe Generale (Yankee)    
0.23%, 3/1/10 400,000,000 400,000,000
Sumitomo Mitsui Banking Corporation (Yankee)    
0.21%, 4/7/10 - 4/8/10 300,000,000 300,000,000



UBS AG (Yankee)    
0.32%, 7/22/10 485,000,000 485,000,000
Unicredit SPA (Yankee)    
0.34%, 3/4/10 250,000,000 250,000,000
Total Negotiable Bank Certificates of Deposit    
(cost $6,135,005,024)   6,135,005,024
Commercial Paper--17.5%    
Abbey National North America LLC    
0.12%, 3/1/10 450,000,000 450,000,000
Banco Bilbao Vizcaya Argentaria    
0.32% - 0.34%, 4/15/10 - 5/5/10 185,000,000 184,915,306
CBA (Delaware) Finance Inc.    
0.29%, 6/18/10 172,000,000 171,848,974
Deutsche Bank Financial LLC    
0.30%, 8/11/10 200,000,000 199,728,333
General Electric Capital Corp.    
0.30%, 8/5/10 250,000,000 249,672,917
General Electric Co.    
0.11%, 3/1/10 350,000,000 350,000,000
NRW Bank    
0.30%, 8/9/10 325,000,000 324,563,958
Societe Generale N.A. Inc.    
0.24%, 4/7/10 200,000,000 199,950,667
UBS Finance Delaware LLC    
0.11%, 3/1/10 150,000,000 150,000,000
Total Commercial Paper    
(cost $2,280,680,155)   2,280,680,155
Asset-Backed Commercial Paper--4.9%    
Cancara Asset Securitisation Ltd.    
0.26%, 3/16/10 200,000,000 b 199,978,333
CHARTA LLC    
0.31%, 8/9/10 200,000,000 b 199,722,722
Clipper Receivables Co.    
0.21%, 5/18/10 100,000,000 b 99,954,500
Grampian Funding Ltd.    
0.26%, 5/6/10 141,500,000 b 141,432,552
Total Asset-Backed Commercial Paper    
(cost $641,088,107)   641,088,107
Corporate Notes--7.9%    
Bank of America Securities LLC    



0.29%, 3/1/10 425,000,000 425,000,000
Barclays Bank PLC    
0.68%, 3/19/10 350,000,000 a 350,000,000
Credit Suisse    
0.31%, 3/9/10 250,000,000 a 250,000,000
Total Corporate Notes    
(cost $1,025,000,000)   1,025,000,000
Short-Term Bank Note--1.5%    
Bank of America N.A.    
0.31%, 7/12/10    
(cost $200,000,000) 200,000,000 200,000,000
U.S. Government Agencies--6.4%    
Federal Home Loan Bank    
0.06%, 3/1/10 344,000,000 344,000,000
Federal National Mortgage Association    
0.25%, 4/21/10 490,000,000 a,c 489,915,206
Total U.S. Government Agencies    
(cost $833,915,206)   833,915,206
Time Deposits--14.2%    
Branch Banking & Trust Co. (Grand Cayman)    
0.09%, 3/1/10 190,000,000 190,000,000
Commerzbank AG (Grand Cayman)    
0.13%, 3/1/10 550,000,000 550,000,000
DnB NOR Bank ASA (Grand Cayman)    
0.12%, 3/1/10 550,000,000 550,000,000
KBC Bank N.V. (Grand Cayman)    
0.14%, 3/1/10 550,000,000 550,000,000
Total Time Deposits    
(cost $1,840,000,000)   1,840,000,000
Repurchase Agreement--.3%    
Barclays Capital    
0.10%, dated 2/26/10, due 3/1/10 in the amount of    
$45,000,375 (fully collateralized by $45,048,900 U.S.    
Treasury Notes, 3%, due 8/31/16, value $45,900,065)    
(cost $45,000,000) 45,000,000 45,000,000
Total Investments (cost $13,000,688,492) 100.0% 13,000,688,492
Cash and Receivables (Net) .0% 2,152,802
Net Assets 100.0% 13,002,841,294

a     

Variable rate security--interest rate subject to periodic change.



b     

Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2010, these securities amounted to $791,088,107 or 6.1% of net assets.

c     

On September 7, 2008, the Federal Housing Finance Agency (FHFA) placed Federal National Mortgage Association and Federal Home Loan Mortgage Corporation into conservatorship with FHFA as the conservator. As such, the FHFA will oversee the continuing affairs of these companies.

At February 28, 2010, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes.



Various inputs are used in determining the value of the fund's investments relating to fair value measurements.
These inputs are summarized in the three broad levels listed below.
Level 1 - unadjusted quoted prices in active markets for identical investments.
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds,
credit risk, etc.)
Level 3 - significant unobservable inputs (including fund's own assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those
securities. For example, money market securities are valued using amortized cost, in accordance with rules under the Investment
Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained
from a unadjusted quoted price in an active market, such securities are reflected as Level 2.
The following is a summary of the inputs used as of February 28, 2010 in valuing the fund's investments:

Valuation Inputs Short-Term Investments ($)+
Level 1 - Unadjusted Quoted Prices -
Level 2 - Other Significant Observable Inputs 13,000,688,492
Level 3 - Significant Unobservable Inputs -
Total 13,000,688,492
 
+ See Statement of Investments for additional detailed categorizations.



The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) has become the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The ASC has superseded all existing non-SEC accounting and reporting standards. The fund’s financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.

It is the fund’s policy to maintain a continuous net asset value per share of $1.00; the fund has adopted certain investment, portfolio valuation and dividend and distribution policies to enable it to do so. There is no assurance, however, that the fund will be able to maintain a stable net asset value per share of $1.00.

Portfolio valuation: Investments in securities are valued at amortized cost in accordance with Rule 2a-7 of the Act, which has been determined by the Board of Trustees to represent the fair value of the fund’s investments.

The fund may enter into repurchase agreements with financial institutions, deemed to be creditworthy by the Manager, subject to the seller’s

agreement to repurchase and the fund’s agreement to resell such securities at a mutually agreed upon price. Securities purchased subject to repurchase agreements are deposited with the fund’s custodian and,

pursuant to the terms of the repurchase agreement, must have an aggregate market value greater than or equal to the terms of the repurchase price plus accrued interest at all times. If the value of the underlying securities falls below the value of the repurchase price plus accrued interest, the fund will require the seller to deposit additional collateral by the next business day. If the request for additional collateral is not met, or the seller defaults on its repurchase obligation, the fund maintains its right to sell the underlying securities at market value and may claim any resulting loss against the seller.



Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.



Item 2. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.

(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.

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FORM N-Q

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

General Money Market Fund, Inc.

By: /s/ Bradley J. Skapyak
  Bradley J. Skapyak
President          
 
Date: April 22, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By: /s/ Bradley J. Skapyak
  Bradley J. Skapyak
President          
 
Date: April 22, 2010

By: /s/ James Windels
  James Windels
  Treasurer
 
Date: April 22, 2010

EXHIBIT INDEX

                            (a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT)

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