EC changes tack on money fund buffers and repo

By Craig McGlashan
06 Sep 2013

Money market funds won concessions this week after the European Commission watered down some of its proposed regulatory changes for the sector. But participants were still dismayed after a change that they say will destroy a major part of the industry was not dropped but merely put on hold for three years, writes Craig McGlashan.

The funds — which hold 38% of the short term debt issued by the banking sector, according to EC figures — have been under scrutiny by regulators on both sides of the Atlantic over the last five years, ever since the default of the Reserve Primary Fund, a ...

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