In this report, FedFin analyzes the detailed documents released by the Financial Stability Board on Monday following the weekend G-20 ministerial and related meetings.  These were previewed in the Thursday daily briefing, but the latest FSB report provides additional detail reflecting important conclusions not previously made public.  These are most substantive with regard to new MMF rules, which will now move quickly this year in an IOSCO consultation that clearly contemplates reforms along lines pending in a long-awaited, highly-controversial SEC proposal.  The FSB document provides no initial conclusions on what it wants to see in global rules, but the release leads FedFin to anticipate that global standards will go considerably farther than the industry to date has contemplated even if express floating-NAV or other requirements are not finally adopted.

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