Policy Center Lecture: Craig M. Lewis
Title: Money Market Fund Reform (TBC)
Speaker: Craig M. Lewis, Madison S. Wigginton Professor of Finance, Owen Graduate School of Management, Vanderbilt University
The objective of the talk is to discuss various regulatory reform options that are designed to make money market funds more resilient to liquidity runs. Prof. Lewis will discuss the economic effects of 1) requiring a money market fund to be supported by a capital buffer; 2) requiring a fund to be priced at its market value rather than the current convention of amortized cost pricing, and 3) the efficacy of liquidity fees and redemption gates.