Brussels, 22/08/2013 (Agence Europe) - EU Internal Market Commissioner Michel Barnier will unveil draft legislation on money market funds on Wednesday 4 September.
There are a lot of money market funds in France and Ireland, where they are used as shadow banking by investors although they are not subject to the prudential capital and liquidity rules of the banks, explain people close to the Commissioner. The idea is not to force the funds to meet the same rules as the banks, but rather to...