The Countdown to 2019 Begins

The January 2019 deadline for the implementation of the European money market fund (MMF) regulation is now set in stone, but 44% of European respondents still need more time to understand and adapt their MMF strategy in line with the changes, according to J.P. Morgan Global Liquidity’s 2017 Investment PeerView survey [1] . For Europe’s corporate treasurers, that means now is the perfect time to get to grips with the regulation, its implications for their organisations and the opportunities that it brings.

The broader context of regulatory reform

MMF regulation is undoubtedly a milestone in the evolution of cash investment opportunities, but it is unfolding in the context of wider change. Central bank policy, such as quantitative easing, has changed market dynamics, while interest rate policy, particularly the impact of negative rates, continues to create challenges. Banks themselves are adapting to far-reaching reforms, most notably Basel III, driving a tangible shift in their approach to capital and liquidity. 

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