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Part 1 Money Market Funds in the EU, 3 European Regulatory Framework of Money Market Funds

Iain MacNeil, Aurelien Portuese

From: Money Market Funds in the EU and the US: Regulation and Practice

Edited By: Viktoria Baklanova, Joseph Tanega

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 09 December 2022

Money market funds (MMFs) — European Securities and Markets Authority (ESMA)
3.01 As explained in Chapter 1, money market funds are widely used by all types of investors, including households, corporate treasurers, pension funds, or insurance companies, who regard money market funds as a ‘safe’ short-term liquid asset class for investing cash. In this case they are proxies to cash deposits. Money market funds are themselves key lenders to issuers of short dated high quality money market instruments. They provide an important source of funding for a variety of institutions such as sovereigns, banks, and companies. Active trading by money...
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