Press Release: Money market funds: Council agrees its negotiating stance

On 15 June 2016, the Permanent Representatives Committee (Coreper) agreed, on behalf of the Council of the European Union, a negotiating stance on a draft regulation on money market funds, aimed at making such products more robust.

The draft regulation was intended to ensure the smooth operation of the short-term funding market, maintaining the essential role that money market funds play in the financing of the economy.

The Council confirmed Coreper's agreement at a meeting on 17 June 2016, and asked the presidency to start talks with the European Parliament. The Parliament's ECON committee approved its negotiating stance in March 2015.

• Primary Source

European Commission: DG Communication: RAPID: PRESS RELEASE: IP/16/2226, 15.06.16: Commission welcomes EU Council’s backing for a new regulatory framework of Money Market Funds http://europa.eu/rapid/press-release_IP-16-2226_en.htm

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