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The Boston Globe

Business

Regional Fed chiefs call for money market rules

Boston’s Eric Rosengren seeks supports to funds’ stability

Eric Rosengren, chief of the Federal Reserve Bank of Boston, submitted a letter Tuesday on behalf of all 12 central bank regional presidents to a US oversight panel in support of reforms for money market mutual funds.

In their letter to the Financial Stability Oversight Council, Rosengren and the other presidents took the unusual step of voicing a joint view on the need to ensure the safety of money market funds. It’s a shot across the bow for Fidelity Investments and other firms that have been lobbying against new regulations.

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