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Briefing - Financial Services Group (Mark to Market Requirement), October 2008

  • Financial Regulator suspends mark to market requirement for instruments with a maturity of less than three months in money market funds.<br>
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    The Financial Regulator has granted a temporary derogation from the requirement that certain money market instruments with a residual maturity of three months and under be subject to mark to market valuations. A similar approach has been adopted by the Securities and Exchange Commission in the US, but only in relation to securities with a maturity of less than 60 days. The Financial Regulator consulted with the rating agencies prior to deciding to grant this derogation.
  • 17.10.2008