Fed's Tarullo eyes more money-fund reforms - MarketWatch
Federal Reserve Governor Daniel Tarullo on Wednesday outlined a series
of alternative approaches to imposing new regulations on the $2.7
trillion money-market-fund industry, a sector he says may only exist in
its present form due to "unprecedented interventions" by government. The
Fed governor said bank regulatory agencies such as the Fed could impose
restrictions on financial institutions that come under their purview
from sponsoring, borrowing or investing in money-market funds that don't
have "structural protections." Tarullo's new push comes after
Securities and Exchange Commission Chairman Mary Schapiro acknowledged
that she didn't have the votes at the agency to move forward with a plan
of her own to impose further regulation of the industry.
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