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Regulation 2017/1131/EU - Money Market Funds Regulation (MMFR)RecitalsChapter I General provisions (arts. 1-7)Article 1 Subject matter and scopeArticle 2 DefinitionsArticle 3 Types of MMFsArticle 4 Authorisation of MMFsArticle 5 Procedure for authorising MMFs that are AIFsArticle 6 Use of designation as MMFArticle 7 Applicable rulesChapter II Obligations concerning the investment policies of MMFs (arts. 8-23)Section I General rules and eligible assets (arts. 8-16)Article 8 General principlesArticle 9 Eligible assetsArticle 10 Eligible money market instrumentsArticle 11 Eligible securitisations and ABCPsArticle 12 Eligible deposits with credit institutionsArticle 13 Eligible financial derivative instrumentsArticle 14 Eligible repurchase agreementsArticle 15 Eligible reverse repurchase agreementsArticle 16 Eligible units or shares of MMFsSection II Provisions on investment policies (arts. 17-18)Article 17 DiversificationArticle 18 ConcentrationSection III Credit quality of money market instruments, securitisations and ABCPs (arts. 19-23)Article 19 Internal credit quality assessment procedureArticle 20 Internal credit quality assessmentArticle 21 DocumentationArticle 22 Delegated acts for the credit quality assessmentArticle 23 Governance of the credit quality assessmentChapter III Obligations concerning the risk management of MMFs (arts. 24-28)Article 24 Portfolio rules for short-term MMFsArticle 25 Portfolio rules for standard MMFsArticle 26 MMF credit ratingsArticle 27 'Know your customer' policyArticle 28 Stress testingChapter IV Valuation rules (arts. 29-33)Article 29 Valuation of MMFsArticle 30 Calculation of NAV per unit or shareArticle 31 Calculation of the constant NAV per unit or share of public debt CNAV MMFsArticle 32 Calculation of the constant NAV per unit or share of LVNAV MMFsArticle 33 Issue and redemption priceChapter V Specific requirements for public debt CNAV MMFs and LVNAV MMFs (art. 34)Article 34 Specific requirements for public debt CNAV MMFs and LVNAV MMFsChapter VI External support (art. 35)Article 35 External supportChapter VII Transparency requirements (arts. 36-37a)Article 36 TransparencyArticle 37 Reporting to competent authoritiesArticle 37a Accessibility of information on the European single access pointChapter VIII Supervision (arts. 38-43)Article 38 Supervision by the competent authoritiesArticle 39 Powers of competent authoritiesArticle 40 Penalties and other measuresArticle 41 Specific measuresArticle 42 Powers and competences of ESMAArticle 43 Cooperation between authoritiesChapter IX Final provisions (arts. 44-47)Article 44 Treatment of existing UCITS and AIFsArticle 45 Exercise of the delegationArticle 46 ReviewArticle 47 Entry into forceDone at
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Version status: Applicable | Document consolidation status: Updated to reflect all known changes
Version date: 21 July 2018 - onwards
Version 3 of 3

Article 7 Applicable rules

1. An MMF and the manager of the MMF shall comply at all times with this Regulation.

2. An MMF which is a UCITS and the manager of the MMF shall comply at all times with the requirements of Directive 2009/65/EC, unless otherwise specified in this Regulation.

3. An MMF which is an AIF and the manager of the MMF shall comply at all times with the requirements of Directive 2011/61/EU, unless otherwise specified in this Regulation.

4. The manager of an MMF shall be responsible for ensuring compliance with this Regulation and shall be liable for any loss or damage resulting from non-compliance with this Regulation.

5. This Regulation shall not prevent MMFs from applying investment limits that are stricter than those required by this Regulation.

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