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Is the EU money market fund regulation fit for purpose? : lessons from the COVID-19 turmoil
Capotă, Laura-Dona; Grill, Michael; Molestina Vivar, Luis - 2022
The market turmoil in March 2020 highlighted key vulnerabilities in the EU money market fund (MMF) sector. This paper assesses the effectiveness of the EU's regulatory framework from a financial stability perspective, based on a panel analysis of EU MMFs at a daily frequency. First, we find that...
Persistent link: https://www.econbiz.de/10013390997
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Is the EU Money Market Fund Regulation Fit for Purpose? Lessons from the COVID-19 Turmoil
Capotă, Laura-Dona; Grill, Michael; Molestina Vivar, Luis - 2022
The market turmoil in March 2020 highlighted key vulnerabilities in the EU money market fund (MMF) sector. This paper assesses the effectiveness of the EU's regulatory framework from a financial stability perspective, based on a panel analysis of EU MMFs at a daily frequency. First, we find that...
Persistent link: https://www.econbiz.de/10014236736
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Sophisticated and unsophisticated runs
Cipriani, Marco; La Spada, Gabriele - 2020
This paper characterizes the run behavior of sophisticated (institutional) and unsophisticated (retail) investors by studying the runs on prime money market funds (MMFs) of March 2020, at the beginning of the COVID-19 pandemic. For both U.S. and European institutional prime MMFs, the runs were...
Persistent link: https://www.econbiz.de/10012391516
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The Money Market Mutual Fund Liquidity Facility
Anadu, Kenechukwu; Cipriani, Marco; Craver, Ryan M.; La … - 2021
In this article, we discuss the run on prime money market funds (MMFs) that occurred in March 2020, at the onset of the COVID-19 pandemic, and describe the Money Market Mutual Fund Liquidity Facility (MMLF), which the Federal Reserve established in response to it. We show that the MMLF, like a...
Persistent link: https://www.econbiz.de/10012625898
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Epidemic and Pandemic Risk Transfer Solutions and Options for Public Sector Support
Kraut, Gunther; de Kuiper, Raymond - 2021
The current COVID-19 pandemic caused a significant shock to the world economy which led to large-scale government support measures and thus proved the non-resilience of the current financial ecosystem, with devastating effects on the human global population. As research indicates, pandemic...
Persistent link: https://www.econbiz.de/10013218052
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Loss Potential from Credit Derivative Use by Corporate Bond Funds under U.S. and German Regulation – A Cross Country Comparison
Gałkiewicz, Dominika P. - In: Credit and Capital Markets – Kredit und Kapital 49 (2016) 2, pp. 245-298
This study analyzes the loss potential arising from investments into CDS and CDS use-induced risk and performance implications for a sample of large U.S. and German mutual funds. For several funds in the U.S., the regulatory potential losses arising from selling CDS protection are almost as high...
Persistent link: https://www.econbiz.de/10014521535
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Financial Engineering Coupled with Regulatory Incentives : Is There a Strong Market Case for Sovereign Bond-Backed Securities (SBBSs) in the Euro-Area? A Brief Analysis of the Euro...
Gortsos, Christos - 2018
's proposal for a Regulation of the European Parliament and the Council, whose objective is to lay down a general framework for … proposed Regulation (Sub-section 2).(2) Section B addresses the proposed Regulation's subject matter and scope, as well as the …) Section C analyses Articles 4-8 of the proposed Regulation concerning:• the eligibility and composition of the underlying …
Persistent link: https://www.econbiz.de/10012911693
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A Regulatory Framework for Exchange-Traded Funds
Hu, Henry T. C. - 2018
Persistent link: https://www.econbiz.de/10012925355
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The SEC and Regulation of Exchange-Traded Funds : A Commendable Start and a Welcome Invitation
Hu, Henry T. C. - 2019
Persistent link: https://www.econbiz.de/10012863913
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The Commission's 2020 Proposal for a Markets in Crypto-Assets Regulation (‘MiCAR’) : A Brief Introductory Overview
Gortsos, Christos - 2021
’s proposal for a Regulation of the European Parliament and of the Council “on Markets in Crypto-Assets (…)” (MiCAR), which was … regulatory framework. The nine Sections of the study fully correspond to the Titles of the proposed Regulation. Furthermore, Sub …
Persistent link: https://www.econbiz.de/10013228416