On 12 May 2021, the Bank of England published a speech by Andrew Bailey entitled Taking our second chance to make MMFs more resilient.

In his speech Mr Bailey explains how money market funds (MMFs) magnified some of the economic shocks caused by the COVID-19 pandemic. He also discusses the ways regulators around the world can coordinate to make MMFs more resilient in the future. In his conclusion Mr Bailey mentions that the Financial Stability Board will shortly be consulting on what reforms would be most appropriate.