Given that over 20% of the assets of all Irish domiciled funds are currently held within Money Market Funds (MMFs) it is no surprise that the EU Money Market Reform (MMF Regulation) regulation which was published on 14 June 2017 was met with particular interest to those involved in the Irish funds sector.
In this document we look at:
- types of MMF;
- features of the MMF regulation:
- portfolio holdings;
- valuation;
- dealing price;
- diversification;
- liquidity management; and
- credit assessments and stress testing.
- other points of note:
- Know-Your-Client (KYC) procedures;
- external support;
- credit rating; and
- reporting and transparency requirements.
