2 Amendments of Gay MITCHELL related to 2012/2115(INI)
Amendment 119 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Recognises the important role money market funds (MMFs) fulfil in the financing of financial institutions in the short run and the real economy as well as in allowing for risk diversification; recognises the different role and structure of MMFs based in the EU and the US; recognises that the 2010 ESMA guidelines imposed stricter standards on MMFs (credit quality, maturity of underlying securities and better disclosure to investors); notes, however, that some MMFs, in particular those offering a stable net asset value to investors, are vulnerable to massive runs; stresses, therefore, that additional measures need to be taken to improve the resilience of these funds and to cover the liquidity risk; invites the Commission to submit a legislative proposal at the beginning of 2013 requiring MMFs either to adopt a variable asset value with a daily evaluation or, if retaining a constant value, to be subject to capital requirementsfollowing an impact assessment and the examination of developments on the international stage, particularly IOSCO's recommendations to the G20;
Amendment 125 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Recognises the benefits Exchange Traded Funds (ETFs) provide by giving retail investors access to a wider range of assets (such as commodities, in particular), but stresses the risks ETF carry in terms of complexity, counterparty risk, liquidity of products and possible regulatory arbitrage; invites the Commission, therefore, to submit a legislative proposal at the beginning of 2013 to tackle these potential structural vulnerabilities to examine further regulatory measures for ETFs in the EU;