UPDATE: All Fed Presidents Support MMF Reform, Send Letter to FSOC

February 12, 2013 1:55 PM EST Send to a Friend
(Updated - February 12, 2013 2:17 PM EST)

All 12 Fed presidents support money market mutual fund (MMF) reform.

MMFs are said to create risk of "significant" liquidity/credit problems, according to a letter sent to the Financial Stability Oversight Council and signed by all Fed presidents. The letter backs the council's proposed determination of potential risk. The council recently proposed initiatives to address structural vulnerabilities of MMFs.

To read the full letter, click here.


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