At the height of the crisis last year, some investors fled money market mutual funds, worsening the strains in the financial system. In an effort to restore market confidence and ensure short-term liquidity, the Treasury Department intervened to guarantee these investments, and the Federal Reserve made credit available that allowed funds to meet heavy redemption requests and also provided short-term credit directly to borrowers in the commercial paper market. Will money funds survive without such support? If not, how should they be regulated in the future? A new report by the Investment Company Institute (ICI) proposes new liquidity and maturity standards to correct this market.
At this AEI event, ICI chief economist Brian Reid will discuss these findings. Joining Reid will be Mercer Bullard, a University of Mississippi law professor and an investment management expert; Eugene F. Maloney, executive vice president of Federated Investors, a firm that has been involved in shaping the legal landscape for money market funds; and Peter J. Wallison, who holds AEI's Arthur F. Burns Chair in Financial Policy Studies. AEI's Vincent R. Reinhart will moderate.
Adam Paul
American Enterprise Institute
1150 Seventeenth Street, N.W.
Washington, DC 20036
Phone: 202-862-5852
E-mail:
adam.paul@aei.org
Veronique Rodman
American Enterprise Institute
1150 Seventeenth Street, N.W.
Washington, DC 20036
Phone: 202-862-4870
E-mail:
VRodman@aei.org
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