SEC Weighs Replacing Credit Ratings in Money-Market Fund Rules
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The U.S. Securities and Exchange Commission may propose dropping credit-rating references from money-market fund regulations and using a different method for evaluating their portfolios.
SEC commissioners may seek comment on a proposed rule to instead use internal assessments for money market funds, according to a fact sheet released by the agency. The funds themselves would be responsible for weighing the credit quality of the securities in the proposal, which would be open for public comment until April 25.