Money Market Funds in Europe and Financial Stability

  title={Money Market Funds in Europe and Financial Stability},
  author={Julie Ansidei and Elias Bengtsson and Dani{\`e}le Frison and Giles Ward},
  journal={ESRB: Occasional Paper Series (Topic)},
Money market funds (MMFs) are investment funds whose primary objectives are to maintain the principal value of the funds and offer a return in line with money market rates, while providing daily liquidity to their investors. In Europe, MMFs manage approximately EUR 1 trillion in assets, with three countries (France, Ireland and Luxembourg) representing an aggregate market share of over 90%. MMFs were at the heart of dramatic episodes of the financial crisis of 2007-08, prompting regulators on… 
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