Money Market Funds

This page is also available in:

přijatá stanoviska on 10/12/2013
Odkaz
INT/690-EESC-2013-5988
Opinion Type
Referral
Referral
COM(2013) 615 final - 2013/0306 (COD)
Official Journal
OJ C 170, 05.06.2014, p.50
Rapporteur
Mr Edgardo Maria Iozia
Workers - GR II
Italy
Plenary session number
494
-
Financial Crisis
Financial markets
Download — EESC opinion: Money Market Funds
docx
bg
cs
da
de
el
en
es
et
fi
fr
hr
hu
it
lt
lv
mt
nl
pl
pt
ro
sk
sl
sv

Key points

The EESC:

  • welcomes the proposal;
  • endorses the Commission's decision to use a regulation rather than a directive to regulate this sector. Given the characteristics of MMFs, uniform and immediately applicable rules are crucial;
  • calls on uniform and immediately applicable rules for the MMFs to be applied jointly with US authorities;
  • considers that constant net asset value (CNAV) funds, should be converted into variable net asset value (VNAV) funds and that the 3% capital buffer seems insufficient – given that the biggest possible risk faced was over 6% – to cope with liquidity demands at a time when all operators must anticipate considerable turmoil in the market and may rush to withdraw their investments.

Other relevant EESC opinions:

 

Recommended for you