Carfang Lobbies for Return of CNAV
Treasury Strategies' Anthony Carfang posted a statement on LinkedIn entitled, "Bipartisan U.S. Congressional support for bringing back CNAV Money Market Funds grows." He comments, "Yesterday, eight more members of the U.S. House of Representatives, four Democrats and four Republicans, signed on as co-sponsors to H.R.2319, a bill which brings back institutional prime and institutional tax exempt money funds. Since new SEC regulations went into effect last October, over $1.2tn has left these money funds, negatively impacting corporate investors and borrowers alike. H.R.2319 and its Senate counterpart S.1117 seek to restore these important money market tools. For more information, download our whitepaper, Money Market Fund Regulation, Winners, Losers and Long-Term Consequences. See our congressional testimony at https://www.youtube.com/channel/UChaxQwDEFxt37bliRoP02eQ/featured." (For more, see our May 24 News, "Stable NAV Bill Re-Introduced in House; Amortized Cost for Inst Funds?," our May 22 News, "NEAFP Treasury Show Focuses on Prime MF Issues; Atlanta Symposium, and our March 8, 2016 News, "`Long Shot Legislation Could Keep All Money Funds Stable, Ban Bailouts.")
