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IBFed comments on IOSCO money market funds consultation

12 Jun 2012

From a brief analysis of the consultation report, we note that the report appears to discuss the range of options that appeared in the U.S. President’s Working Group Report on Money Market Fund Reforms.

Without prejudice to any comments we may make at a future date when we have had an opportunity to fully assess the report, the IBFed would state at this stage that it adamantly opposes any option that appeared to regulate money market funds or their products as banks or bank products, whether this takes the form of an insurance fund or treatment as special purpose banks.We do not believe that any such regulatory scheme would ever impose the overall burden and costs that are attendant to existing bank regulatory regimes, and thus would unfairly alter the competitive landscape.

Please read the full paper via the link below.

IBFed comments on IOSCO money market funds consultation
 
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