On 9 July 2020, the European Securities and Markets Authority (ESMA) issued a public statement on external support under Article 35 of the Money Market Funds Regulation (MMF Regulation).

The statement has been issued by ESMA in light of financial markets authorities recent actions to mitigate the impact of COVID-19 on the EU’s financial markets, to clarify the potential interaction between the intermediation of credit institutions and the requirements of Article 35 of the MMF Regulation on external support. It also aims to coordinate the supervisory approaches of Member State national competent authorities  in light of  liquidity challenges for MMFs in the context of the current COVID-19 pandemic.