N-Q 1 formnq-123.htm FORM N-Q formnq-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:

 

2/29

 

Date of reporting period:

11/30/14

 

             

 

 

 

 

FORM N-Q

Item 1.                         Schedule of Investments.

 

 

  STATEMENT OF INVESTMENTS       
  Dreyfus BASIC Money Market Fund, Inc.       
  November 30, 2014 (Unaudited)       
 
  Negotiable Bank Certificates of Deposit--34.0%  Principal Amount ($)   Value ($) 
  Bank of Montreal (Yankee)       
  0.22%, 4/8/15  8,000,000   8,000,000 
  Bank of Tokyo-Mitsubishi Ltd. (Yankee)       
  0.25%, 2/17/15  10,000,000   10,000,000 
  Citibank N.A.       
  0.20%, 12/10/14  10,000,000   10,000,000 
  Credit Industriel et Commercial (Yankee)       
  0.18%, 1/5/15  10,000,000   10,000,000 
  Nordea Bank Finland (Yankee)       
  0.23%, 5/20/15  8,000,000   7,999,811 
  Skandinaviska Enskilda Banken NY (Yankee)       
  0.26%, 4/17/15  10,000,000   10,000,000 
  State Street Bank and Trust Co.       
  0.20%, 12/15/14  10,000,000   10,000,000 
  Wells Fargo Bank, NA       
  0.21%, 12/5/14  8,000,000   8,000,000 
  Total Negotiable Bank Certificates of Deposit       
  (cost $73,999,811)      73,999,811 
  Commercial Paper--25.3%       
  BNP Paribas Finance Inc.       
  0.22%, 1/21/15  5,000,000   4,998,442 
  Credit Agricole       
  0.09%, 12/1/14  10,000,000   10,000,000 
  Erste Abwicklungsanstalt       
  0.17%, 1/27/15  10,000,000   9,997,308 
  Oversea-Chinese Banking Corp./NY       
  0.24%, 5/19/15  5,000,000   4,994,367 
  Sumitomo Mitsui Trust Bank       
  0.19%, 12/10/14  10,000,000   9,999,525 
  Svenska Handelsbanken Inc       
  0.21%, 5/18/15  5,000,000 a  4,995,100 
  Westpac Banking Corp.       
  0.24%, 1/2/15  10,000,000 a,b  10,000,000 
  Total Commercial Paper       
  (cost $54,984,742)      54,984,742 
Asset-Backed Commercial Paper--12.0%       
  Alpine Securitization Corp.       
  0.22%, 1/5/15  10,000,000 a  9,997,861 
  Antalis U.S. Funding Corp.       
  0.16%, 12/12/14  8,000,000 a  7,999,609 
  Regency Markets No. 1 LLC       
  0.14%, 12/16/14  8,000,000 a  7,999,533 
  Total Asset-Backed Commercial Paper       
  (cost $25,997,003)      25,997,003 
  Time Deposits--20.2%       
  Australia and New Zealand Banking Group Ltd. (Grand Cayman)       
  0.08%, 12/1/14  5,000,000   5,000,000 

 

 

DZ Bank AG (Grand Cayman)        
0.06%, 12/1/14   8,000,000   8,000,000 
ING Bank (London)        
0.08%, 12/1/14   5,000,000   5,000,000 
Lloyds Bank (London)        
0.05%, 12/1/14   8,000,000   8,000,000 
Natixis New York (Grand Cayman)        
0.07%, 12/1/14   9,000,000   9,000,000 
Northern Trust Co. (Grand Cayman)        
0.06%, 12/1/14   9,000,000   9,000,000 
Total Time Deposits        
(cost $44,000,000)       44,000,000 
U.S. Treasury Notes--1.4%        
0.12%, 5/31/15        
(cost $3,029,945)   3,000,000   3,029,945 
Repurchase Agreement--6.9%        
ABN AMRO Bank N. V.        
0.07%, dated 11/28/14, due 12/1/14 in the amount of        
$15,000,088 (fully collateralized by $1,201,989 U.S.       
Treasury Bonds, 3.63%-7.88%, due 2/15/21-8/15/43,        
value $1,481,021, $1,743,602 U.S. Treasury Inflation        
Protected Securities, 0.13%, due 4/15/18, value        
$1,816,794 and $11,884,052 U.S. Treasury Notes,        
0.75%-4%, due 2/28/18-11/15/24, value $12,002,185)        
(cost $15,000,000)   15,000,000   15,000,000 
Total Investments (cost $217,011,501)   99.8 %  217,011,501 
Cash and Receivables (Net)   .2 %  438,311 
Net Assets   100.0 %  217,449,812 

 

a 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 November 30, 2014, these 

securities amounted to $40,992,103 or 18.9% of net assets. 

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

 

At November 30, 2014, 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, 2014 in valuing the fund's investments:

Valuation Inputs  Short-Term Investments ($)+ 
Level 1 - Unadjusted Quoted Prices  - 
Level 2 - Other Significant Observable Inputs  217,011,501 
Level 3 - Significant Unobservable Inputs  - 
Total  217,011,501 

 

+ 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 fund's Board.

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, the seller’s agreement to repurchase and the fund’s agreement to resell such securities at a mutually agreed upon pric the terms of the repurchase agreement, such securities must have an aggregate market value greater than or equal to repurchase price plus accrued interest at all times. If the value of the underlying securities falls below the value of the r price plus accrued interest, the fund will require the seller to deposit additional collateral by the next business day. If the additional collateral is not met, or the seller defaults on its repurchase obligation, the fund maintains its right to sell the

 

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 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 22, 2015

 

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 22, 2015

 

By:       /s/ James Windels

            James Windels

            Treasurer

 

Date:    January 22, 2015

 

 

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)