March 28, 2014 (PLANSPONSOR.com) – The Securities and Exchange Commission (SEC) has recently made analyses related to money market fund reform available to the public.
The analyses, conducted by the SEC’s Division of Economic
and Risk Analysis, examine: (1) The spread between same-day buy and sell
transaction prices for certain corporate bonds from January 2, 2008, to January
31, 2009; (2) The extent of government money market fund exposure to
non-government securities; (3) Academic literature reviewing recent evidence on
the availability of “safe assets” in the U.S. and global economies; and (4) The
extent various types of money market funds are holding in their portfolios
guarantees and demand features from a single institution.
The downloadable analyses include:
According to the SEC, the analyses have the potential to be
informative for evaluating final rule amendments for the regulation of money
market funds. These analyses may supplement other information considered in
connection with those final rule amendments. The SEC says it has made these analyses
available to allow the public to consider and comment on this supplemental
Comments on this supplemental information may be submitted
to the comment file for rule amendments the SEC proposed in June 2013 regarding
money market fund reform (File No. S7-03-13) and should be received by April
23, 2014. Comments can be submitted here.
The SEC notes that additional materials may be added to the
comment file during this rulemaking. A notification of the inclusion in the
comment file of any such materials and an invitation for public comment will be
made available on www.sec.gov. To ensure
direct electronic receipt of such notifications, sign up through the website’s “Stay
Connected” option to receive by email “Notifications Regarding the Money Market
Fund Reform and Amendments to Form PF Rulemaking.”
Many firms in the industry have raised concerns about the SEC's proposed money market funds reform (see “Firms
Comment on Money Market Funds Reform” and “ICI
Comments on SEC Proposal for Money Market Funds”). A fact sheet about the
proposed SEC reforms can be found here.