N-Q 1 fornnq-123.htm FORM N-Q fornnq-123.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

811-6604

 

 

 

Dreyfus BASIC 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)

 

 

 

 

 

John Pak, 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:

 

2/28

 

Date of reporting period:

11/30/13

 

             

 

 


 

 

FORM N-Q

Item 1.                         Schedule of Investments.

 


 

  STATEMENT OF INVESTMENTS       
  Dreyfus BASIC Money Market Fund, Inc.       
  November 30, 2013 (Unaudited)       
 
  Negotiable Bank Certificates of Deposit--37.5%  Principal Amount ($)   Value ($) 
  Bank of Nova Scotia (Yankee)       
  0.27%, 12/2/13  10,000,000 a  10,000,000 
  Bank of Tokyo-Mitsubishi Ltd. (Yankee)       
  0.25%, 2/10/14  10,000,000   10,000,000 
  JPMorgan Chase Bank, N.A.       
  0.25%, 4/25/14  10,000,000   10,000,000 
  Mizuho Bank (Yankee)       
  0.22%, 1/23/14  10,000,000   10,000,000 
  Nordea Bank Finland (Yankee)       
  0.22%, 3/6/14  10,000,000   10,000,000 
  Norinchukin Bank (Yankee)       
  0.21%, 2/4/14  10,000,000   10,000,000 
  Royal Bank of Canada (Yankee)       
  0.29%, 12/2/13  10,000,000 a  10,000,000 
  Skandinaviska Enskilda Banken (Yankee)       
  0.27%, 3/13/14  10,000,000 b  10,000,000 
  Sumitomo Mitsui Trust Bank (Yankee)       
  0.21%, 2/26/14  10,000,000 b  10,000,000 
  Toronto Dominion Bank (Yankee)       
  0.22%, 2/18/14  10,000,000   10,000,000 
  Total Negotiable Bank Certificates of Deposit       
  (cost $100,000,000)      100,000,000 
  Commercial Paper--33.8%       
  Barclays U.S. Funding       
  0.12%, 12/2/13  10,000,000   9,999,967 
  BNP Paribas Finance Inc.       
  0.10%, 12/2/13  10,000,000   9,999,972 
  Credit Agricole NA       
  0.11%, 12/2/13  10,000,000   9,999,969 
  General Electric Capital Corp.       
  0.23%, 2/5/14  10,000,000   9,995,783 
  National Australia Funding (DE) Inc.       
  0.20%, 12/16/13  10,000,000 a,b  10,000,000 
  Natixis US Finance Company LLC       
  0.08%, 12/2/13  10,000,000   9,999,978 
  Societe Generale N.A. Inc.       
  0.09%, 12/2/13  10,000,000   9,999,975 
  Svenska Handelsbanken Inc.       
  0.20%, 5/14/14  10,000,000 b  9,990,889 
  Toyota Motor Credit Corp.       
  0.24%, 2/7/14  10,000,000   9,995,467 
  Total Commercial Paper       
  (cost $89,982,000)      89,982,000 
Asset-Backed Commercial Paper--11.3%       
  Alpine Securitization Corp.       
  0.04%, 12/2/13  10,000,000 b  9,999,989 

 



  Fairway Finance Corporation        
  0.19%, 1/22/14   5,100,000 b  5,098,600 
  Metlife Short Term Funding LLC        
  0.18%, 4/21/14   10,000,000 b  9,992,950 
  Regency Markets No. 1 LLC        
  0.14%, 12/20/13   5,000,000 b  4,999,631 
  Total Asset-Backed Commercial Paper        
  (cost $30,091,170)       30,091,170 
  U.S. Treasury Notes--3.8%        
  0.16%, 12/15/13        
  (cost $10,002,404)   10,000,000   10,002,404 
  Repurchase Agreements--13.5%        
  Barclays Capital, Inc.        
  0.06%, dated 11/29/13, due 12/2/13 in the amount of        
  $26,000,130 (fully collateralized by $1,546,586 U.S.        
  Treasury Notes, 0.38%, due 8/31/15, value $1,551,169        
  and $33,262,352 U.S. Treasury Strips, due        
  5/15/19-5/15/26, value $24,968,833)   26,000,000   26,000,000 
  Deutsche Bank Securities Inc.        
  0.09%, dated 11/29/13, due 12/2/13 in the amount of        
$ 10,000,075 (fully collateralized by $1,615,000       
  Federal Farm Credit Bank, 3.47%-5.41%, due        
  4/17/36-3/26/37, value $1,659,282, $5,445,000        
  Federal Home Loan Bank, 0.11%- 5.38%, due        
  2/24/14-4/25/28, value $5,689,327, $374,000 Federal        
  Home Loan Mortgage Corp., 0%-2.50%, due        
  1/7/14-11/17/14, value $378,443, $713,000        
  Federal National Mortgage Association,        
  0.88%-4.13%, due 3/13/14-8/28/14, value        
  $718,590, $289,000 Financing Corp., 0%, due        
  9/26/19, value $248,314 and $1,337,900        
  U.S. Treasury Bonds, 4.38%, due 2/15/38, value        
$1,506,117)   10,000,000   10,000,000 
 
  Total Repurchase Agreements        
  (cost $36,000,000)       36,000,000 
  Total Investments (cost $266,075,574)   99.9 %  266,075,574 
  Cash and Receivables (Net)   .1 %  165,586 
  Net Assets   100.0 %  266,241,160 

 

a Variable rate security--interest rate subject to periodic change. 
b Securities exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold 
in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2006, these
securities amounted to $70,082,059 or 26.3% of net assets.

 

At November 30, 2013, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes.



The following is a summary of the inputs used as of November 30, 2013 in valuing the fund's investments:

Valuation Inputs  Short-Term Investments ($)+ 
Level 1 - Unadjusted Quoted Prices  - 
Level 2 - Other Significant Observable Inputs  266,075,574 
Level 3 - Significant Unobservable Inputs  - 
Total  266,075,574 

 

+ See Statement of Investments for additional detailed categorizations. 

 



The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) is 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 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.

Portfolio valuation: Investments in securities are valued at amortized cost in accordance with Rule 2a-7 under the Act. If amortized cost is determined not to approximate market value, the fair value of the portfolio securities will be determined by procedures established by and under the general supervision of the Board of Trustees.

The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.

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 the 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 Act. Generally,
amortized cost approximates the current fair value of a security, but
since the value is not obtained from a quoted price in an active market,
such securities are reflected as Level 2.

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. Pursuant to the terms of the repurchase agreement, such securities 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.

The fund may also jointly enter into one or more repurchase agreements with other Dreyfus managed funds in accordance with an exemptive order granted by the SEC pursuant to section 17(d) and Rule 17d-1 under the Act. Any joint repurchase agreements must be collateralized fully by U.S. Government securities.

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.


 

 

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.

Dreyfus BASIC Money Market Fund, Inc.

By: /s/ Bradley J. Skapyak

Bradley J. Skapyak

President

 

Date:

January 23, 2014

 

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:

January 23, 2014

 

By: /s/ James Windels

James Windels

Treasurer

 

Date:

January 23, 2014

 

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)