Money Market Funds in the EU and the US

Money Market Funds in the EU and the US

Bringing together a team of renowned academics and skilled practitioners from around the world, this book provides the first comprehensive examination of the money market fund sector, and offers comparative analysis of the regulatory ...

Author: Viktoria Baklanova

Publisher: OUP Oxford

ISBN: 0199687250

Category: Law

Page: 416

View: 209

Bringing together a team of renowned academics and skilled practitioners from around the world, this book provides the first comprehensive examination of the money market fund sector, and offers comparative analysis of the regulatory environment in the EU and in the US.
Categories: Law

Research Handbook on Shadow Banking

Research Handbook on Shadow Banking

The question is whether such a universal transparency tool would be suitable for European money market funds. ... to public.93 5.5 Conclusion European money market fund regulation has yet to be officially adopted while in the US the ...

Author: Iris H.-Y. Chiu

Publisher: Edward Elgar Publishing

ISBN: 9781785362637

Category:

Page: 488

View: 288

Research Handbook on Shadow Banking brings together a range of international experts to discuss shadow banking activities, the purposes they serve, the risks they pose to the financial system and implications for regulators and the regulatory perimeter. Including discussions specific to the UK, European Union, US, China and Singapore, this book offers high level and theoretical perspectives on shadow banking and regulatory risks, as well as more detailed explorations of specific markets in shadow banking.
Categories:

After the Crash

After the Crash

Baklanova and Tanega, eds., Money Market Funds in the EU and the US, chap. 2. ... Elias Bengtsson, “Shadow Banking and Financial Stability: European Money Market Funds in the Global Financial Crisis,” Journal of International Money and ...

Author: Sharyn O'Halloran

Publisher: Columbia University Press

ISBN: 9780231549998

Category: History

Page: 415

View: 897

The 2008 crash was the worst financial crisis and the most severe economic downturn since the Great Depression. It triggered a complete overhaul of the global regulatory environment, ushering in a stream of new rules and laws to combat the perceived weakness of the financial system. While the global economy came back from the brink, the continuing effects of the crisis include increasing economic inequality and political polarization. After the Crash is an innovative analysis of the crisis and its ongoing influence on the global regulatory, financial, and political landscape, with timely discussions of the key issues for our economic future. It brings together a range of experts and practitioners, including Joseph Stiglitz, a Nobel Prize winner; former congressman Barney Frank; former treasury secretary Jacob Lew; Paul Tucker, a former deputy governor of the Bank of England; and Steve Cutler, general counsel of JP Morgan Chase during the financial crisis. Each poses crucial questions: What were the origins of the crisis? How effective were international and domestic regulatory responses? Have we addressed the roots of the crisis through reform and regulation? Are our financial systems and the global economy better able to withstand another crash? After the Crash is vital reading as both a retrospective on the last crisis and an analysis of possible sources of the next one.
Categories: History

Shadow Banking

Shadow Banking

In the early 1990s, Ireland, one of the two main fund administration centres in Europe, became a platform administration for the services development came of from money the market US asset funds managers, in Europe. who The observed ...

Author: Anastasia Nesvetailova

Publisher: Routledge

ISBN: 9781315511597

Category: Business & Economics

Page: 250

View: 406

Shadow banking – a system of credit creation outside traditional banks – lies at the very heart of the global economy. It accounts for over half of global banking assets, and represents a third of the global financial system. Although the term ‘shadow banking’ only entered public discourse in 2007, the importance and scope of this system is now widely recognised by the international policy-makers. There is, however, much less consensus on the origins of the shadow banking system, what role it plays in global political economy and the optimal approach to regulating this complex segment of finance. This volume addresses these questions. Shadow Banking is the first study to bring together the insights from financial regulators, practitioners and academics from across the social sciences. The first part traces the evolution and ongoing confusion about the meaning of ‘shadow banking’. The second section draws major lessons about shadow banking as posed by the financial crisis of 2007–09, providing comparative analyses in the US and Europe, and attempts to establish why shadow banking has emerged and matured to the level of a de facto parallel financial system. Finally, the third part goes beyond current regulatory concerns about shadow banking and explains why it is ‘here to stay’. This volume is of great importance to political economy, banking and international political economy.
Categories: Business & Economics

Perspectives on Money Market Mutual Fund Reforms

Perspectives on Money Market Mutual Fund Reforms

find portals to be a convenient way to compare money market funds in terms of their assets under management , ratings ... In Europe , money funds are available in U.S. dollars , Euros , Swiss Francs , or sterling and many accrue ...

Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs

Publisher:

ISBN: MINN:31951D03492762X

Category: Financial services industry

Page: 180

View: 816

Categories: Financial services industry

Regulation and Governance of Mutual Funds

Regulation and Governance of Mutual Funds

United Kingdom and United States of America Perspectives on Investor Protection Mohammed Khair Alshaleel ... In my recent article, 'Money Market Funds Reforms in the US and the EU: The Quest for Financial Stability', I argued that the ...

Author: Mohammed Khair Alshaleel

Publisher: Taylor & Francis

ISBN: 9781000634907

Category: Law

Page: 272

View: 528

This book provides a detailed analysis of mutual fund regulations and governance in the UK from the investor protection perspective. It comprehensively describes mutual funds by their function, social utility, and legal attributes, examining the level of protection provided to retail investors under existing regulations. Mutual funds are externally managed with fund ownership separated out from their management, which carries a potential conflict of interest between the self-interests of the fund management and each fund’s investors. The book provides an in-depth analysis of this agency problem in the mutual fund industry, comparing the competing governance models in the UK and the US and the supervision of management activities. In the UK, it investigates the main governance mechanisms, including disclosure, the effectiveness of voting rights, and the role of the Financial Conduct Authority in protecting investors. It also considers the role of prudential regulations in protecting mutual fund investors, with a particular focus on risk management and mutual fund liquidity crisis. The book further investigates the impact of the withdrawal of the UK from the European Union (Brexit) on the industry and what this means for the future of the undertakings for collective investment in transferable securities (UCITS) in the UK. The concept of mutual funds is still not clearly understood, so this book will clearly define the different legal and practical aspects of mutual funds. It will be the first substantial study of mutual fund governance mechanisms under the existing mutual fund laws and regulations in the UK.
Categories: Law

Federal Register

Federal Register

One qualification in ' money market ' fund label in their pressure may create an additional considering these experiences is that marketing strategies while taking on incentive for investors to redeem shares many of the European ...

Author:

Publisher:

ISBN: UCR:31210024750901

Category: Delegated legislation

Page:

View: 155

Categories: Delegated legislation

SEC Docket

SEC Docket

United States. Securities and Exchange Commission. We disagree with those commenters that asserted that a reduction of maximum ... 151 Similarly , European stable value money market funds do not appear to have had these difficulties .

Author: United States. Securities and Exchange Commission

Publisher:

ISBN: NWU:35559006528412

Category: Securities

Page:

View: 367

Categories: Securities

Connectedness and Contagion

Connectedness and Contagion

( 2009 ) find that European banks also relied on US prime money market funds to finance large portfolios of dollar - denominated assets.14 However , even foreign banks ' reliance on US prime money market funds is now limited .

Author: Hal S. Scott

Publisher: MIT Press

ISBN: 9780262546751

Category: Business & Economics

Page: 439

View: 794

An argument that contagion is the most significant risk facing the financial system and that Dodd¬Frank has reduced the government's ability to respond effectively. The Dodd–Frank Act of 2010 was intended to reform financial policies in order to prevent another massive crisis such as the financial meltdown of 2008. Dodd–Frank is largely premised on the diagnosis that connectedness was the major problem in that crisis—that is, that financial institutions were overexposed to one another, resulting in a possible chain reaction of failures. In this book, Hal Scott argues that it is not connectedness but contagion that is the most significant element of systemic risk facing the financial system. Contagion is an indiscriminate run by short-term creditors of financial institutions that can render otherwise solvent institutions insolvent. It poses a serious risk because, as Scott explains, our financial system still depends on approximately $7.4 to $8.2 trillion of runnable and uninsured short-term liabilities, 60 percent of which are held by nonbanks. Scott argues that efforts by the Federal Reserve, the FDIC, and the Treasury to stop the contagion that exploded after the bankruptcy of Lehman Brothers lessened the economic damage. And yet Congress, spurred by the public's aversion to bailouts, has dramatically weakened the power of the government to respond to contagion, including limitations on the Fed's powers as a lender of last resort. Offering uniquely detailed forensic analyses of the Lehman Brothers and AIG failures, and suggesting alternative regulatory approaches, Scott makes the case that we need to restore and strengthen our weapons for fighting contagion.
Categories: Business & Economics

Oversight of the Mutual Fund Industry

Oversight of the Mutual Fund Industry

There is no global definition of a “ money fund , " and many non - U.S . money funds do not maintain a stable NAV . ... Europe also has an established and strong market of stable NAV money funds , including a large number of dollar ...

Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets and Government Sponsored Enterprises

Publisher:

ISBN: UCSD:31822038350377

Category: Financial services industry

Page: 261

View: 377

Categories: Financial services industry