​ IMMFA Considers Pushing for the Regulation of European Money Funds. The Institutional Money Market Funds Association (​IMMFA), a group representing European AAA-​rated money funds, is "​consulting Members, Associate Members and other interested parties that operate within the money market fund industry about the most appropriate approach to the regulation of '​treasury style' money market funds and in particular on the possibility of creating a standard local regulatory regime to replace the existing IMMFA Code of Practice." Europe currently has no standardized definition or regulation of "​money market funds", but has a growing cadre of Dublin-​registered, stable-​value "​liquidity" funds (​270 billion pound sterling or $​355 billion in assets says the document). We urge IMMFA members to resist half-​measures and to back full Europe-​wide regulation, defining money market funds with quality, maturity, and diversity standards equivalent to the U.​S.'​s Rule 2a-​7. (​E-​mail info@​cranedata.​us if you'​d like to participate in a trial of Money Fund Intelligence International, a publication covering non-​US money funds, which will be rolled out in the coming months.)

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