The European Parliament has not yet given in on the idea of gradually phasing out the new kind of monetary fund suggested in the inter-institutional negotiations on the draft regulation to introduce a European framework on these “money market funds”.
The Parliament’s negotiating position involves plans for setting up three new kinds of Constant Net Asset Value ('CNAV') funds: the 'public debt CNAV', CNAVs that would invest a majority (99.5%) of their assets in public debt; retail...