| Author (Corporate) | Council of the European Union: General Secretariat |
|---|---|
| Series Title | Press Release |
| Series Details | 16.05.17 |
| Publication Date | 16/05/2017 |
| Content Type | News |
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On 16 May 2017, the General Affairs Council adopted a regulation to ensure the smooth operation of the short-term financing market. This follows initiatives by the G20 and the Financial Stability Board. 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 text, put forward by the European Commission in September 2013, was approved by the European Parliament on 5 April 2017, following an agreement between Council and Parliament representatives on 7 December 2016. |
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| Source Link | http://www.consilium.europa.eu/en/press/press-releases/2017/05/16-money-market-fund-rules-adopted/ |
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| Subject Categories | Business and Industry |
| Countries / Regions | Europe |
