Money-Market Resistance
The US Securities and Exchange Commission recently rejected proposed rules that were aimed at making money-market funds safer in a financial crisis – a decision that caused consternation among many outside regulators and observers. It is not hard to see why.
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CAMBRIDGE – The United States Securities and Exchange Commission (SEC) recently rejected proposed rules aimed at making money-market funds safer in a financial crisis – a rejection that has caused consternation among observers and other regulators. Given the risks that money market funds can pose to the global financial system, as shown by their destabilizing role in the 2008 financial crisis, it is not hard to see why they are worried.