Money markets in focus for FSB non-bank work

Randal Quarles
Randal Quarles
Federal Reserve

The Financial Stability Board is focusing on money markets as a “first deliverable” for its non-bank work programme, chair Randal Quarles said today (April 6).

In a letter to the G20 ahead of the group’s virtual meeting on April 7, Quarles writes that the FSB will present its policy proposals “to enhance money market fund resilience” in July.

Quarles notes non-banks can be a source of stability by allowing investors to diversify. “But the March 2020 turmoil highlighted the increasingly

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