ESRB calls for reform of MMF regulation

ECB 2017

The European Systemic Risk Board (ESRB) puts forward new ways to address systemic vulnerabilities stemming from money market funds (MMFs) in a report published on July 2.

The analysis says the pandemic showed reforms implemented after the financial crisis are insufficient to address the peculiarities of these market participants.

It first sets out the reasons why MMFs pose a risk to financial stability. “There is an underlying tension between the two primary economic functions of MMFs: they

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