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Money Market Funds
Bernanke on Money Fund Reform
April 11, 2012
In a speech given on April 9, 2012, Federal Reserve Chairman Ben Bernanke Bernanke highlighted his belief that further reforms to money market funds are necessary. He noted that money market funds are part of the “shadow banking” system and expressed concerns about the area: Although… read more
The Federal Reserve and Money Funds
April 04, 2012
A recent paper, Shooting the Messenger: The Fed and Money Market Funds, examines recent concerns about money market funds expressed by the Federal Reserve. In the paper, author Melanie Fein, a former senior counsel to the Board of Governors of the Federal Reserve System, reviews… read more
Forum Files Comment Letter on Potential Money Market Reforms
April 02, 2012
The Forum has filed with the SEC a comment letter concerning significant money market fund reform options that the SEC is reportedly considering. The letter makes two points, both premised on what appears to be a widely held view that if redemption restrictions or other… read more
Commissioner Walter on Money Fund Reform
March 26, 2012
In a speech on March 19, SEC Commissioner Elisse Walter encouraged the industry to engage with the Commission about additional money market fund reforms. She stated, "I have always appreciated the views and involvement of the industry, and believe that your engagement is essential to… read more
Schapiro Reiterates Call for Money Fund Reform
March 20, 2012
In a speech last Thursday, SEC Chairman Mary Schapiro reiterated her belief that additional money market fund reforms are needed. She expressed her hope that the SEC will propose two serious options: floating the NAV or imposing capital requirements combined with limitations or fees… read more