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ARTICLE · 14 JULY 2017

MMFR: Introducing A New EU Framework For Money Market Funds

Maples Group
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In light of the perceived systemic risk presented by MMFs, the MMFR aims to make these investment products more resilient and resistant to contagion risks.

European UnionFinance and Banking
Peter Stapleton
Peter Stapleton
Barry McGrath
Barry McGrath
Stephen Carty
Stephen Carty
Carol Widger
Carol Widger
Adam Donoghue
Adam Donoghue
Eimear O'Dwyer
Eimear O'Dwyer
Ian Conlon
Ian Conlon
Ciara O'Leary
Ciara O'Leary
John Gallagher
John Gallagher
+4 more
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The Money Market Funds Regulation (EU) 2017/1131 ("MMFR") was published in the Official Journal of the EU on 30 June 2017 and comes into force on 20 July 2017. It will apply from 21 July 2018 (with the exception of Article 11(4), Article 15(7), Article 22 and Article 37(4)) which shall apply from 20 July 2017 and is a broad set of new regulatory measures that apply to money market funds ("MMFs") established, managed or marketed in the EU.

In light of the perceived systemic risk presented by MMFs, the MMFR aims to make these investment products more resilient and resistant to contagion risks. It does this by imposing rules on eligible assets, portfolio diversification, portfolio maturity and valuation of assets and introduces new categories of MMFs that can offer a constant net asset value ("NAV") per share if they meet certain requirements.

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