U.​S. Securities and Exchange Commission Chair Mary Jo White spoke briefly on money funds Thursday in "Testimony on Oversight of the SEC Before the U.​S. House of Representatives Committee on Financial Services." She commented on "Money Market Funds," "A rule proposal pertaining to money market mutual fund reform is well underway at the SEC and has been the product of a comprehensive and collaborative process. Any proposal that results would seek to preserve many of the benefits of money market funds for investors and the short-​term funding markets while lessening money market funds' susceptibility to runs; improving their ability to manage and mitigate potential contagion from high levels of redemptions; and increasing the transparency of their risks." Later, she commented, "​RSFI economists also have made important contributions to pre-​proposal rule development. For example, RSFI economists performed qualitative and quantitative analyses to study money market funds in order to respond to a series of questions posed by Commissioners. This analysis has assisted the Commission in its deliberations as it considers the scope of any future rulemaking relating to money market funds." Finally, the footnote accompanying the mention of the SEC study says, "​See Memorandum from the Division of Risk, Strategy, and Financial Innovation, Response to Questions Posed by Commissioners Aguilar, Paredes, and Gallagher (​November 30, 2012)."

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