The European Securities and Markets Authority has published technical standards, technical advice and Guidelines under the Money Market Funds Regulation. These are: final draft Implementing Technical Standards providing a reporting template for managers of MMFs to use in fulfilling their quarterly reporting obligation to the relevant national regulator, which will include information on the characteristics, portfolio indicators, assets, and liabilities of the MMF; Technical Advice to the European Commission on liquidity and credit quality requirements applicable to assets received as part of a reverse repurchase agreement and on credit quality assessments and procedures for those assessments; and Guidelines on common reference parameters of the stress test scenarios to be included in the stress tests that managers of MMFs are required to conduct.
The MMF Regulation will apply from July 21, 2018, with the exception of certain requirements which applied from July 20, 2017, including the obligation on MMF managers to report information about each MMF they manages to the fund's national regulator. The final draft ITS on the reporting template have been submitted to the Commission for endorsement.
View ESMA's final Report.
