ESMA publishes on Money Market Funds

22 August 2014

ESMA published its opinion on how national authorities should apply modifications to the CESR guidelines on money market funds set out in the report on Mechanistic Reference to Credit Ratings in the ESA’s Guidelines and Recommendations.

The report on Mechanistic Reference to Credit Ratings in the ESA’s Guidelines and Recommendations was issued by the Joint Committee of the three ESAs, when monitoring the application of the CESR guidelines by the relevant financial market participants, and published on 6 February 2014. It set out the manner in which the CESR guidelines were to be amended, in particular with respect to the assessment of credit quality of money market instruments by managers of Short-Term Money Market Funds (ST MMFs) and Money Market Funds (MMFs).

 

Full media release

2014/1103 Opinion

JC 2014/004 Report

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