Europe should drive money funds reform - Elderfield

Europe should drive reform of money market funds to lower the risk of investor runs, according to Matthew Elderfield, deputy governor of the Central Bank.

12th September, 2012
Matthew Elderfield, deputy governor of the Central Bank.

Europe should drive reform of money market funds to lower the risk of investor runs in this area of the so-called shadow banking sector, according to Matthew Elderfield, deputy governor of the Central Bank.

Investor runs on MMFs during the international financial crisis “led to a disruption in the flow of finance to the real economy and necessitated dramatic interventions by public financial authorities,” Elderfield said in a speech to the IFIA conference in Dublin...

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