have declared that said they could support certain "liquidity fees" on money market mutual funds, as the latest step in the $2.6 trillion industry efforts to stave off more sweeping regulations, according to Reuters
reports that similar fees have previously have been suggested by BlackRock
as a way to protect money funds against sudden runs by investors. Both Vanguard and the trade group, the Securities Industry and FinancialMarkets Association (SIFMA), made their comments in letters to the U.S. Financial Stability Oversight Council.
The newswire also reports that the risk council” has received a flood of letters in response to broader rule changes it proposed, such as having the funds abandon their traditional fixed net asset value of $1 per share, or having them build up buffers.” On Tuesday, the council said it will extend until mid-February a deadline for public comments, Reuters
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