LONDON (Reuters) – The European Union’s securities watchdog proposed reforms to bolster the resilience of money market funds to shocks after stresses emerged in turmoil that followed coronavirus economic lockdowns a year ago.
“A number of EU money market funds faced significant liquidity issues during March 2020, a period of acute stress, with large redemptions from investors and a severe deterioration in the liquidity of money market instruments,” Steven Maijoor, chair of the European Securities and Markets Authority, said in a statement.
(Reporting by Huw Jones. Editing by Mark Potter)
