Fed's Rosengren calls for tougher rules for money funds

09/29/2011 | Wall Street Journal, The

Eric Rosengren, president of the Federal Reserve Bank of Boston, called for tougher regulations for the money-market mutual-fund industry. Rosengren argues that the industry's vulnerabilities are a risk to financial stability. "Given the systemic importance of the [money market mutual fund] industry, it is critical that one way or another we make the industry less susceptible to credit shocks and liquidity runs," he said.

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