The European Central Bank (ECB) has published an opinion on the proposed Regulation on Money Market Funds (the MMF Regulation). The ECB provides comments on the following areas:

  • the complementarity between the MMF Regulation and the legal frameworks for undertakings for collective investment in transferable securities and alternative investment fund managers;
  • financial stability;
  • the constant net asset value of money market funds (MMFs);
  • the provision of external support;
  • risk management of MMFs;
  • the role of MMFs in intermediation;
  • internal rating systems; and
  • reporting requirements for MMFs.

View Opinion of the European Central Bank on a proposal for a Regulation on money market funds, 22 May 2014