MMF Reform Overview

From the summer of 2017 money market funds in Europe will be undergoing a process of regulatory change that will take until 21 January 2019 to complete. During that time we will provide copies of the final legislation and related guidance on the reforms here for reference. Copies of the draft legislation proposed by the European Commission in 2013 and amended by the European Parliament and Council may be found on our Publications page.

The final version of the Regulation itself was published in the EU Official Journal on 30 June 2017.

On 10 April 2018 The European Commission published a Delegated Regulation covering additional detail on reverse repo collateral, credit assessment indicators and criteria for eligible STS securitisations or ABCP.

On 28 March 2018 ESMA (made up of all EU securities regulators) published Guidelines on Stress Test Scenarios under Article 28.