Money Market Funds: EU Council Presidency reaches agreement with Parliament

The EU Council Presidency has reached a provisional agreement with representatives of the EU Parliament on the proposed regulation on money market funds (MMFs). The proposed regulation is intended to ensure the smooth operation of the short-term funding market, maintaining the role that MMFs play in the financing of the economy.

A number of technical issues relating to the regulation are to be finalised in the coming days. The agreement will then be submitted to the Permanent Representatives Committee for endorsement on behalf of the Council. The Parliament and the Council will then be called upon to adopt the regulation at first reading.