Official stresses need to improve money-market fund stability

04/19/2012 | Reuters · Wall Street Journal, The

Mary Miller, assistant secretary for financial markets at the Treasury Department, raised concerns about the stability of the money-market fund industry. "Further steps are needed to improve the stability of the industry and reduce money funds' susceptibility to runs," Miller said. "...The [Securities and Exchange Commission] and other members of the Financial Stability Oversight Council (FSOC) are actively discussing the most appropriate way to affect this, while preserving the usefulness of these funds for investors and issuers, including those in the municipal market."

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