Capotă, Laura-Dona; Grill, Michael; Molestina Vivar, Luis - 2022
The market turmoil in March 2020 highlighted key vulnerabilities in the EU money market fund (MMF) sector. This paper … assesses the effectiveness of the EU's regulatory framework from a financial stability perspective, based on a panel analysis … of EU MMFs at a daily frequency. First, we find that investment in private debt assets exposes MMFs to liquidity risk …