ECON has published its draft report on the MMF Regulation. The Rapporteur introduces a capital buffer of 3% for MMFs offering a stable net asset value. Regarding the valuation of assets of an MMF, the Rapporteur considers that the use of external rating agencies could be useful and that internal evaluation should use an amortised cost model that limits residual maturity to 90 days. (Source: ECON Draft Report)