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With a foreword by Zoltan Pozsar*:

“Money market funds entered the public view post-crisis as significant providers of liquidity to various economic actors from governments to banks and retail investors. They have been blamed as culprits of systemic contagion although, in fact, very little research has been published as to how these funds operate within the capital markets regulatory environment.

To fill this lacuna, Viktoria and Joseph have done us a great service as editors to a collection of contributions written by legal practitioners, academics and central bankers covering the regulations and market practice on both sides of the Atlantic. The views of the contributing authors give us a timely in-depth analysis of the regulation of money market funds, their historical origins as well as the latest regulatory developments in the EU and the US. Their critical insights on the consequences of such regulations on market practice will further inform policy actions…”

* Zoltan Pozsar is the author of numerous publications on the shadow banking system. He writes in a personal capacity.