Archives for Money Market Mutual Funds

Letter to Fed, FDIC, and OCC on Liquidity Coverage Ratio (1/31/14)

Date: January 31, 2014

Issue: Regulatory Reform

To: Board of Governors of the Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency

Filing Type: Regulatory

Description: CCMC submitted a comment letter to banking regulators addressing corporate treasurers' concerns with respect to the liquidity coverage ratio proposal issued by the regulators late last year. Applying a 100% outflow amount to undrawn credit commitments under bank customer securitization credit facilities could result in increased pricing of these facilities or reduce the availability of these facilities.

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Letter to SEC regarding Money Market Fund Reform (9/17/2013)

Date: September 17, 2013

Issue:  Money Market Mutual Funds

To: Securities and Exchange Commission

Filing Type: Regulatory

Description:  CCMC believes that this rulemaking is an opportunity for the Commission to take a well-balanced and data-driven approach to strengthen MMFs and preserve the critical role they serve for U.S. businesses, state and local governments and for the economy as a whole. Failure to do so will impose significant costs and inefficiencies upon U.S. businesses, and the SEC will fail to fulfill its legal mandate to promote efficiency, competition and capital formation.

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FAR Agenda Release Congressional Letter

Date: April 8, 2013

Issue: Regulatory Reform 

To: The Members of Congress

Filing Type: Congressional

Description: CCMC released the Fix. Add. Replace. (FAR) Agenda to Fix the gaps and unintended consequences of Dodd-Frank, Add solutions for those issues that were ignored, and Replace flawed provisions of Dodd-Frank.

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Financial Stability Oversight Council Process

As established under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 the Financial Stability Oversight Council (FSOC) provides for the first time comprehensive monitoring to ensure the stability of our nation’s financial system. The council is charged with identifying threats to the financial stability of the United States, promoting market discipline, and responding to emerging risks to the stability of the U.S. financial system.

Money Market Mutual Funds (MMMF) and the FSOC: On August 22, SEC Chairman Mary Shapiro announced that she did have not the necessary votes to move forward with a proposal to reform money market funds and pointed to FSOC to propose and implement reforms. FSOC could take one of two paths to reform MMMFs. 

Click here to download an graphic explaining the two paths.

Proposed Rule on Money Market Fund Reform

Date: August 1, 2013

Issue: Money Market Mutual Funds

To: U.S. Securities and Exchange Commission

Filing Type: Regulatory

Description: CCMC submitted a letter and the report Operational Implications of a Floating NAV across Money Market Fund Industry Key Stakeholders to be included in the SECs comment file for the current proposal on further regulation of money market mutual funds.

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