COVID-19 Resource Center
This resource center compiles ICI’s work in regulatory, legislative, and operational areas relating to the COVID-19 pandemic. Members may sign in for more resources on the latest US and global developments affecting the fund industry and fund investors.
Pandemic and Economic Shutdown Drove Financial Turmoil in March 2020
ICI’s research series on the market impact of COVID-19 analyzes financial
markets’ reactions to the pandemic and the US government's response.
Bond Mutual Funds’ Role in the Fixed-Income Markets
New ICI research provides a detailed picture of bond mutual funds’ role in the fixed-income markets during March 2020. ICI urges regulators to use this information when considering policies to enhance the resilience of markets.
Core Bond Mutual Funds Had Little Impact on the Investment Grade Corporate Bond Market
Policymakers Need to Focus on Economic Fundamentals and Not Blame Bond Mutual Funds: Examining the Evidence of Investment Grade Corporate Bond Yield Spreads in March 2020
Policymakers Say Bond Mutual Funds Contributed Significantly to Treasury Market Stress but…
Setting the Record Straight on Bond Mutual Funds’ Sales of Treasuries
ICI Bond Mutual Fund Survey Brings Facts to the Debate
COVID-19 Working Group Report
The COVID-19 Market Impact Working Group, made up of senior industry executives, was charged by the Executive Committee of ICI’s Board of Governors to examine the causes of the 2020 market turmoil and the experiences of regulated funds.
As policymakers around the globe study the events and causes of March 2020, ICI’s Working Group Report—released as a series of papers and written by ICI Global and ICI’s Research, Law, and Industry Operations groups—provides a data-based foundation for future regulatory discussions or other responses that could affect regulated funds and their investors.
Experiences of US Bond Mutual Funds
In addition to the Working Group Report, ICI Research released an ICI Viewpoints series to examine US bond mutual funds during the crisis.
Growth in Bond Mutual Funds: A Question of Balance
Growth in Bond Mutual Funds: See the Whole Picture
What’s in a Name, Redux: For Bond Mutual Funds, “Corporate” Matters
Bond Mutual Fund Outflows: A Measured Investor Response to a Massive Shock
Experiences of European Markets, UCITS, and European ETFs
Regulated Funds in Europe During the COVID-19 Crisis
ICI: UCITS Weathered COVID-19 Market Crisis Well
Experiences of European Markets, UCITS, and European ETFs During the COVID-19 Crisis (pdf)
Experiences of European Markets, UCITS, and European ETFs During the COVID-19 Crisis Summary (pdf) – Simplified Chinese
Experiences of US Money Market Funds
ICI: Prime Money Market Funds Didn’t Trigger Financial Turmoil in March
Experiences of US Money Market Funds During the COVID-19 Crisis (pdf)
Experiences of US Money Market Funds During the COVID-19 Crisis Summary (pdf) – Simplified Chinese
Experiences of US Exchange-Traded Funds
ICI: ETFs Proved Resilient During Unprecedented COVID-19 Market Volatility
Experiences of US Exchange-Traded Funds During the COVID-19 Crisis (pdf)
Experiences of US Exchange-Traded Funds During the COVID-19 Crisis Summary (pdf) – Simplified Chinese
Impact on the Economy and Financial Markets
ICI: Pandemic and Economic Shutdown Drove Financial Turmoil in March
Market Turmoil and Liquidity Crunch Rooted in the COVID-19 Pandemic
The Impact of COVID-19 on Economies and Financial Markets (pdf)
The Impact of COVID-19 on Economies and Financial Markets Summary (pdf) – Simplified Chinese
General ICI Resources
Press Releases and Statements
COVID-19’s Impact on Money Markets, Crane’s Fund Symposium
ICI Statement on Enactment of COVID-19 Relief Package
ICI Applauds Congressional Action to Provide COVID-19 Relief
ICI Calls for Immediate Congressional Action to Address COVID-19 Relief
ICI: “Vitally Important" That Financial Markets Remain Open
Research and Commentary
Effect of March 2020 on Fixed-Income Markets and Open-End Funds: Holistic Review and Policy Implications: Summary of Proceedings and Key Points
A Study of the Performance of Money Market Funds and the Short-Term Funding Markets During March 2020: Summary of Proceedings and Key Points
Regulated Funds: Supporting the Economy During the COVID-19 Crisis
Focus on Funds: During Global Turbulence, Funds Continue to Operate Efficiently
Working to Ensure Funds Can Maintain Vital Services
During COVID-19 Crisis, Fund Company Staff Are Essential
ETFs Are Passing the COVID-19 Crisis Test
Focus on Funds: Amid Volatile Markets, Fund Investors Stay the Course
Mutual Fund Flows in the COVID-19 Crisis
Comment Letters
Coalition Letter to the European Commission and OECD on COVID-19-Related Tax Treaty Challenges (pdf)
Coalition Letter to the European Commission and OECD on COVID-19-Related Tax Treaty Challenges (pdf)
ICI Joins Letter to BCBS and IOSCO Requesting Suspension of UMR Compliance Dates (pdf)
ICI Letter to IRS Regarding COVID-19 Related Tax Relief Challenges (pdf)
ICI Letter to IRS Urges Guidance on Tax Filing Deadline (pdf)
ICI Letter to the National Governors Association on Shelter in Place (pdf)
Joint Statement on Keeping European Markets Open (pdf)
Resources for Members
External Resources
Regulators and Policymakers
United States
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New York Federal Reserve Board COVID-19 Resource Center
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SEC COVID-19 Response Page
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SEC Enables Immediate Effectiveness of Proposed Rule Change to Facilitate NYSE Electronic Auctions in Light of Temporary Closure of Physical Trading Floor
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SEC Provides Conditional Regulatory Relief for Registered Transfer Agents and Certain Other Persons Affected by the Coronavirus Disease 2019 (COVID-19)
Global
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Australian Securities and Investments Commission COVID-19
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Canadian Securities Administrators COVID 19 Information
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Central Bank of Ireland COVID-19 Information
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EIOPA COVID-19 Guidance
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European Commission Coronavirus Response Information
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European Securities and Markets Authority (ESMA) COVID-19 Information
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French Financial Markets Regulator (AMF) COVID-19 Information
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German Financial Regulator (BaFin) COVID-19 Information
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Hong Kong Securities and Futures Commission COVID-19 Information
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Japan Financial Services Authority COVID-19 Information
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Luxembourg Financial Markets Authority (CSSF) COVID-19 Information
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Monetary Authority of Singapore COVID-19 Information
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OECD COVID-19 Country Policy Tracker
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Taiwan Financial Services Commission COVID-19 Information
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UK Financial Conduct Authority COVID-19 Information
Business Continuity Resources
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Cellular Contacts for Key ICI Staff
Feb 12, 2021 -
DTCC Coronavirus FAQ (pdf)
Aug 4, 2020 -
Focus on Funds: During Global Turbulence, Funds Continue to Operate Efficiently
Apr 17, 2020 -
Travel Letter Template for Essential Employee (pdf)
Mar 24, 2020 -
Treasury Press Statement on Financial Services Sector Essential Critical Infrastructure Workers
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Working to Ensure Funds Can Maintain Vital Services
Mar 22, 2020 -
ICI Letter to the National Governors Association on Shelter in Place (pdf)
Mar 21, 2020 -
During COVID-19 Crisis, Fund Company Staff Are Essential
Mar 20, 2020 -
CISA Guidance on the Essential Critical Infrastructure Workforce, Version 4.0
Dec 16, 2020 -
Treasury Memorandum on Financial Services Sector Essential Critical Infrastructure Workers (pdf)
Mar 22, 2019