Page 233 - 《期货和衍生品行业监管动态》（2022年合集）

期货和衍生品行业监管动态

The FCA, jointly with the Bank of England, and with the endorsement of the
Treasury, has today published a Discussion Paper on Money Market Fund (MMFs)

reform. This seeks views to inform the development of MMF reform proposals. The

FCA has also published guidance on the UK MMF Regulation.

MMFs are a type of open-ended investment fund, considered to be a low-risk

investment that gives investors credit risk diversification and a place to hold, rather

than grow, their assets.

In March 2020, financial markets reacted to the Covid pandemic with increased

selling pressure, volatility and illiquidity. MMFs came under severe strain across

major currencies, including in sterling, as investors quickly sought access to cash.

There is concern amongst authorities that underlying vulnerabilities within

MMFs and threats to financial stability remain. Financial Stability Board (FSB)

members, including the UK, agreed to assess and address the vulnerabilities that
MMFs pose in their country.

This joint Discussion Paper (DP) aims to gather views to inform the UK’s

authorities’ development of MMF reform proposals.

The FCA is also doing what it can now to deal with MMF resilience and is

issuing new non-handbook guidance on the UK MMF Regulation.

https://www.fca.org.uk/news/news-stories/uk-authorities-look-strengthen-resilience-m

oney-market-funds

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