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ICI President and CEO Paul Schott Stevens Discusses Money Market Funds on Bloomberg
ICI President and CEO Paul Schott Stevens Discusses Money Market Funds on Bloomberg
In this interview with Bloomberg, ICI's President and CEO Paul Stevens explained the important role money market funds play in the economy and said that a private emergency liquidity facility for prime money market funds is the best option that regulators are considering to provide funds with additional liquidity in times of severe market stress. He also explained industry opposition to reform options that would change the fundamental nature of money market funds, particularly proposals that would force funds to abandon the stable $1.00 per-share net asset value (NAV).