#CNAV #ConstantNAV #CNAVVariation #ESMA #ACT #Treasurers #MMFR #MMFreform #MMFRegulation #compliance #regtech #financialregulation, #Training #regulatorytraining #regulationtraining #londontraining #regtecpro #regtechpro #Stratadigm

#CNAV #ConstantNAV #CNAVVariation #ESMA #ACT #Treasurers #MMFR #MMFreform #MMFRegulation #compliance #regtech #financialregulation, #Training #regulatorytraining #regulationtraining #londontraining #regtecpro #regtechpro #Stratadigm

Constant NAV funds have a no-go-zone under the Money Market Fund Regulation. They can either be 1 Euro (or 100 Euros - whatever the constant is.) Or they can be at 0.998 Euros (99.80 cents) or lower. Between these two values the actual NAV is ignored and 1 Euro is published as the NAV! Take a look at the infographic! #CNAV #ConstantNAV #CNAVVariation #ESMA #ACT #Treasurers #MMFR #MMFreform, MMFRegulation #compliance #regtech #financialregulation, #training #regulatorytraining

We have no access to data to be able to say clearly if funds used to compute the NAV of a Constant NAV Fund as per market valuation principles, pre-MMFR. The Money Market Fund Regulation makes it mandatory for a fund to publish the difference between the market valuation based NAV and the Constant NAV a Daily Basis in a public section of the Fund’s website. To be really clear, while we tend to loosely use the expression market-valuation based NAV, the regulation makes a clear

When Money Market Fund reforms were contemplated in USA and then the EU, the main trigger were the events of December 2008, when money market funds actually lost value due to the liquidity crisis during the Global Financial Crisis. Most are familiar with the cut and thrust of the regulatory intervention. However, this particular piece is about the decrease in NAV resulting in the ‘breaking of the buck’. That NAVs should fluctuate with the value of the assets in the fund is co