The European Central Bank (ECB) published an in-depth study on the proposals to reform Regulation (EU) 2017/1131 on Money Market Funds (MMFs).
This insight noted how private debt MMFs proved particularly vulnerable during the market turbulence due to COVID-19 in March 2020 as a result of the liquidity imbalance between their assets and liabilities.

ESMA published a letter addressed to the European Commission on the legislative proposal on Green Bonds.
ESMA’s comments focus mainly on the supervisory framework for external auditors. In particular:

• the timing of the implementing measures (so-called “level 2 products”),
• the functioning of the third country regimes;
• the adequacy of the resource and funding model foreseen for ESMA supervision.