Money Market Funds in the EU and the US - Regulation and Practice

The first comprehensive analysis of the regulation of money market funds in the EU and US Comparative approach helps practitioners with decisions on portfolio management and in solving regulatory compliance issues Includes practical examples and checklists to assist with the practice of fund management This book provides the first comprehensive examination of the regulation of the money market fund sector. In consideration of the current regulatory uncertainties in the sector, this book provides practical help to legal and market practitioners by setting out regulations governing money market funds in the EU and in the US. Providing a comparative approach, analyzing the regulatory environment in the EU and in the US, the book outlines what is required to determine portfolio management and regulatory compliance issues. In doing so, it determines whether a particular analytical approach is sufficiently credible vis-a-vis comparative benchmarks, which is increasingly pivotal in the contemporary setting of the global financial market. Contributing authors offer their interpretations of legal rules and relevant guidelines as well as commentaries, checklists, and practice examples. Divided into three parts; parts one and two cover money market fund development and regulation in the EU and in the US, respectively. Part three provides a comparative analysis of US and EU regulatory models, money market fund ratings, money market funds outside the US and EU and systemic risk regulation. Given the current issues surrounding money market fund regulation, this book is a vital and timely resource offering a comprehensive comparative analysis and rigorous account of money market funds on both sides of the Atlantic.

Zoltan Pozsar: Foreword 1: Dr Viktoria Baklanova, CFA, Prof Joseph Tanega, and Prof Edmond Curtin: Introduction PART 1: MONEY MARKET FUNDS IN THE EU 2: Igor Axenov, CFA: Rationale for European Money Market Funds: Background and Industry Structure 3: Prof Iain MacNeil and Dr Aurelien Portuese: European Regulatory Framework of Money Market Funds PART 2: MONEY MARKET FUNDS IN THE US 4: Matthew Fink: Historical Rationale for US Money Market Funds: the People against the Bankers 5: Brian M. Kaplowitz: US Regulatory Framework for Money Market Funds 6: Ken Anadu, CFA: Types of Money Market Mutual Funds in the United States PART 3: COMPARATIVE ANALYSIS 7: Dr Viktoria Baklanova, CFA and Prof Joseph Tanega: Comparative Analysis of the US and the EU Regulatory Models for Money Market Funds 8: Henry Shilling: Money Market Fund Ratings 9: Dr Viktoria Baklanova, CFA and Prof Joseph Tanega: Money Market Funds outside the US and the EU 10: Dr Elias Bengtsson: Systemic Risk Regulation and Money Market Funds