Reform pressure grows on US money market funds
US prime money market funds have ploughed into European bank commercial paper in recent months but questions remain over the future of the investor base after more authorities in the US added their voices to calls for reform in the industry this week.
The heads of all 12 regional Federal Reserve banks called for regulatory changes, adding their support to efforts from the Financial Stability Oversight Council, a body of US regulators. Policymakers are concerned about the potential for runs on money market funds.
Many fund providers are worried about one of
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