Look at the big picture in money market reform, says regulator

LONDON - Any reform of the $7 trillion money market funds sector should “tread carefully” and look at the broader financial system and not only the funds themselves, a global regulator said on Wednesday.

The Financial Stability Board , which coordinates financial rules for the G20 economies, is looking at whether reform of money market funds is needed to avoid such vulnerabilities in future shocks. The ecosystem includes the funds themselves, the underlying markets, issuers, dealers and central banks, said Alder, who also heads Hong Kong’s securities watchdog.

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