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New Rules for Short-Term Funding Are Coming

Outgoing SEC chair says reforms will be designed to avoid future panics like March’s money-fund madness.

By Ben Bain | December 11, 2020 at 05:02 PM

New rules for short-term funding markets are likely coming in response to the pandemic-fueled turmoil that hit Wall Street trading desks in March, according to U.S. Securities & Exchange Commission (SEC) Chairman Jay Clayton.

Speaking in a Wednesday Bloomberg Television interview, Clayton said the regulations would be a collaboration among the SEC, the Federal Reserve, and other agencies. The changes would also reflect the differences among various financial instruments, including Treasuries, municipal bonds, and money-market mutual funds, he added.

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