By Al Barbarino (February 4, 2021, 6:09 PM EST) -- The U.S. Securities and Exchange Commission said Thursday it is seeking public comments to help address potential money market fund reform, a response to a presidential working group report highlighting COVID-19-fueled stresses that occurred despite prior reforms tied to the 2008 financial crisis.
The request comes after the President's Working Group on Financial Markets noted in a Dec. 22 report that a run on money market funds in March 2020 led to illiquidity and "general stress in short-term funding markets," requiring Federal Reserve intervention through the Money Market Mutual Fund Liquidity Facility, or MMLF.
Comments should address the potential structural vulnerabilities...
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