| Author (Corporate) | European Parliament |
|---|---|
| Series Title | Press Release |
| Series Details | 05.04.17 |
| Publication Date | 05/04/2017 |
| Content Type | News |
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The European Parliament's plenary session approved on 5 April 2017 a proposal introducing new rules for money market funds (MMFs). The draft law aims to make MMFs more resistant to crises and market turbulence. This regulation requires them to diversify their asset portfolios, invest in higher-quality assets, meet liquidity and concentration requirements and have in place sound stress testing processes conducted at least quarterly. Revised rules also force MMFs to be valued at least once a day and the result to be published daily on the MFF’s website. The proposed regulation was put forward by the European Commission in September 2013. An informal agreement between the Parliament and the Council of the European Union was reached in November 2016. The latter officially endorsed the text in December. |
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| Source Link | Link to Main Source http://www.europarl.europa.eu/news/en/news-room/20170329IPR69061/ |
| Subject Categories | Business and Industry |
| Countries / Regions | Europe |
