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ARTICLE · 11 AUGUST 2023

Commission: No Need To Amend MMFR

William Fry LLP
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In its review findings, published on 20 July 2023, the Commission notes the MMFR has "enhanced financial stability and overall successfully passed the test of the recent market stress episodes."

IrelandFinance and Banking
Patricia Taylor
Patricia Taylor
Nessa Joyce
Nessa Joyce
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Following a scheduled review of the Money Market Funds Regulation (MMFR), the Commission has decided not to amend the MMFR.

In its review findings, published on 20 July 2023, the Commission notes the MMFR has "enhanced financial stability and overall successfully passed the test of the recent market stress episodes." including as a result of increased interest rates, the UK Gilt crisis, the war in Ukraine, and the COVID-19 pandemic. And while certain vulnerabilities in the MMF market are highlighted by the Commission for further assessment, it awaits the outcome of the ongoing FSB analysis of liquidity in MMFs and the AIFMD/UCITS Review which is expected to 'further strengthen the resilience of EU MMFs'.

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