MEPs set to make money market funds more crisis-resilient
A draft law to make EU money market funds more resilient to financial crises will be debated on Tuesday and put to a vote on Wednesday. These funds hold assets worth €1 trillion and act as short-term lenders to financial institutions, firms and governments. But their “shadow banking” operations are not subject to EU banking rules and they lack direct access to central bank liquidity. The law would also require clearer investor information.
The draft law, already approved by the Economic and Monetary Affair Committee, is being voted on by Parliament as a whole to consolidate its position for three-way talks on the draft with member states and the Commission.
Procedure: Co-decision (Ordinary Legislative Procedure), vote on mandate for negotiations
Debate: Tuesday, 28 April
Vote: Wednesday, 29 April
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