March turbulence in the markets shows need for financial reforms: report
Updated Dec 23, 2020;
WASHINGTON A top government financial oversight panel says that the turbulence in financial markets last spring has exposed problems in the operation of money market funds that will need to be corrected before the next crisis hits.
The President’s Working Group on Financial Markets, led by the Treasury Department, issued a report Tuesday which said that the flight to safety triggered by the coronavirus pandemic last spring pointed to the need for reforms that will make money market funds less vulnerable to investors rushing to withdraw their funds.
Report: March turbulence shows need for financial reforms
by Martin Crutsinger, The Associated Press
Posted Dec 22, 2020 6:00 pm EDT
Last Updated Dec 22, 2020 at 6:14 pm EDT
WASHINGTON A top government financial oversight panel says that the turbulence in financial markets last spring has exposed problems in the operation of money market funds that will need to be corrected before the next crisis hits.
The President’s Working Group on Financial Markets, led by the Treasury Department, issued a report Tuesday which said that the flight to safety triggered by the coronavirus pandemic last spring pointed to the need for reforms that will make money market funds less vulnerable to investors rushing to withdraw their funds.
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