by Susan Hindle Barone, Secretary General, IMMFA
In the myriad dissections of the credit crunch – What caused it? Could we have avoided it? How do we prevent another one? – a recurring theme is transparency, and how better transparency might lead to a more robust financial system.
But what do we understand by transparency? How does it help? And more specifically, what does it mean when we’re talking about money market funds?
At the most fundamental level transparency is simply openness about what a fund is holding and how it operates.