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Money Market Mutual Fund "Reform": The Dangers of Acting Now - Money Market Funds (“MMF”) are an important vehicle that investors rely on and that business, as well as state and local governments, use for short-term cash management. In fact, MMF’s encompass 40% of the commercial paper market. The Report finds that now is not the time to engage in further MMF regulations because additional regulations will:

  • Increasing costs in a low yield environment that will drive many MMRs out of business harming investors;
  • increase borrowing costs, while impeding capital formation and cash management for businesses ultimately harming economic recovery;  
  • increase borrowing costs and restricting cash management for state and local governments potentially leading to tax increases;
  • concentrating and increasing the threat of systemic risk.

Click here to download the report.

Money Market Funds: Helping Businesses Manage Cash Flows
Money market funds play a critical role in meeting the short-term capital needs of American businesses.  For many businesses cash inflows and outflows don’talways line up, and money funds act as a financial intermediary in helping them offset these discrepancies. When cash outflows are greater than inflows, they turn to short term financing, and money market funds are often where these short-term instruments are ultimately placed.  When cash inflows are greater than outflows, they invest the cash in money market funds.  

 Click here  to download the report.