Shadow bank reforms ‘should prompt review’ of Solvency II money market fund charge


European policy-makers are being urged to reconsider the capital charge imposed by Solvency II on investments in money market funds in light of plans to tighten regulation of shadow banks.

The European Commission (EC) is expected to publish in June a proposal to regulate the money market sector, as part of a broader strategy to clamp down on shadow banks.

According to a leaked draft, money market funds (MMFs) will be required to hold a net asset value buffer of at least 3% and face severe

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