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The Boston Globe

Business

Boston Fed’s Rosengren joins colleagues in pressing for money market mutual fund reforms

Eric Rosengren, chief of the Federal Reserve Bank of Boston, on Tuesday submitted a letter on behalf of all 12 central bank presidents to a federal oversight council in support of money market mutual fund reforms.

Rosengren has been pressing for stronger rules for money market funds in the wake of the 2008 financial crisis and was supportive of efforts by former SEC chief Mary Schapiro to impose new rules. Schapiro’s effort failed, but the Financial Stability Oversight Council has proposed similar changes to enhance the safety of money markets.

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