The SEC's Money Market Fund Proposal: An Inappropriate Use of the Investment Company Act to Address a Bank Regulatory Problem
20 Pages Posted: 13 Sep 2013
Date Written: September 9, 2013
This paper analyzes the Securities and Exchange Commission's June 2013 proposal relating to money market funds. It argues that the proposal seeks to address a problem originating in the banking industry, not the MMF industry, and whose solution lies in banking regulation, not MMF regulation.
Keywords: money market fund, MMF, SEC, Rule 2a-7, ABCP, commercial paper, Federal Reserve, financial crisis, short-term credit, short-term funding, bank capital, reform
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