SEC finalizes new money market funds rules

Politico Pro – In a story about the SEC finalizing new money market funds rules, Healthy Markets President and CEO Tyler Gellasch is quoted saying “after the vote that a fund could lose upward of a fifth of its assets over the span of a few days and not blink, which is fundamentally safer than what we’ve seen from our banks lately.”Adding a 5 percent fee on top of that makes no sense. As we saw yet again in March of this year, money funds are far more transparent and liquid than bank deposits, referring to the collapse of several regional lenders. And yet we’re seeing an effort to drive hundreds of billions of dollars into the arms of a banking regime that just proved incapable of managing corporate deposits properly.”

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