Regulatory Alerts2012-12-20
Added · Updated
Recommendation of the European Systemic Risk Board on money market funds
The European Systemic Risk Board recommends that the European Commission ensure Union legislation requires money market funds to adopt a fluctuating net asset value and restrict amortised cost accounting. It mandates explicit minimum holdings of daily and weekly liquid assets, enhanced public disclosure regarding the absence of capital guarantees and sponsor support, and improved reporting and information sharing with supervisory authorities. The Commission is requested to report on implementation actions by 30 June 2013 and 30 June 2014.
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