MFDF - Mutual Fund Directors Forum - Treasury Official Advocates Money Fund Reform test

Member Login



Request an account

Sample Banner 2

Treasury Official Advocates Money Fund Reform

In remarks on April 18, 2012, Mary Miller, the Under Secretary for Domestic Finance at the Treasury Department, strongly advocated for additional regulations over money market funds.  She noted,

"Both SEC Chairman Mary Schapiro and Federal Reserve Chairman Ben Bernanke have recently expressed concerns with the inherent susceptibility of money market funds to liquidity runs during times of stress. Indeed, money market funds contributed to instability during the financial crisis in 2008 and at the time, the previous Administration was forced to intervene to prevent a widespread run."

Although she admitted that as a result of the SEC's 2010 amendments, money market funds "are more resilient today than they were in the lead-up to the financial crisis," she nonetheless concluded that additional reforms are necessary, both "to improve the stability of the industry and reduce money funds' susceptibility to runs."  She went on to add that,

"The SEC and other members of the Financial Stability Oversight Council (FSOC) are actively discussing the most appropriate way to affect this, while preserving the usefulness of these funds for investors and issuers, including those in the municipal market."

The full text of the remarks can be found here:  http://www.treasury.gov/press-center/press-releases/Pages/tg1539.aspx

 

 

 
 
  • All
  • Accounting and Audit
  • Advisory Contracts
  • Board Governance
  • Board Governance: Board Leadership
  • Board Governance: Compensation
  • Board Governance: Oversight of CCO
  • Board Governance: D&O Insurance
  • Board Governance: Self-Evaluation
  • Closed-end Funds
  • ETFs
  • Other Oversight
  • Other Oversight: Alternative Investments and Derivatives
  • Other Oversight: Custody
  • Other Oversight: Fixed Income funds
  • Other Oversight: Distribution
  • Other Oversight: Portfolio Trading
  • Other Oversight: Proxy Voting
  • Other Oversight: Securities Lending
  • Legislative News
  • Money Market Funds
  • Reference
  • Regulatory News
  • Risk
  • Shareholder Disclosure
  • Valuation
  • Webinars
  • Aaron New Tag

SHOWING 0 TO 0 OF 0 ENTRIES (FILTERED FROM 0 TOTAL ENTRIES)