State Street Corporation
is prepared for the new money market regulation amendments is ready to prepare advisors as well. The Boston-based company has released new services to help with Rule 2a-7 compliance.
The program will help money market funds manage new liquidity and feature maturity and credit guidelines for reporting and disclosure, according to a release
"This comprehensive suite of money market fund services is specifically designed to help advisors meet the requirements of the regulations without having to invest in additional infrastructure," stated Alan Greene
, executive vice president of Global Services for State Street Corporation.
"State Street's solution provides a range of stress tests to help clients assess the stability of their portfolios in times of market turmoil, as well as new calculations, reporting and filings to help clients meet all of the new SEC guidelines," Greene continued.
The stress tests cover fund performance in response to "hypothetical market scenarios," including interest rate shifts and increased redemptions. Additionally, the tests can assess what impact September 2008-like conditions would have on funds.
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