1. A standard MMF shall comply on an ongoing basis with all of the following requirements:
(a) its portfolio is to have at all times a WAM of no more than 6 months;
(b) its portfolio is to have at all times a WAL of no more than 12 months, subject to the second and third subÂparagraphs;
(c) at least 7,5% of its assets are to be comprised of daily maturing assets, reverse repurchase agreements which can be terminated by giving prior notice of one working day or cash which can be withdrawn by giving prior notice of one working day. A standard MMF is not to acquire any asset other than a daily maturing asset when such acquisition would result in that MMF investing less than 7,5% of its portfolio in daily maturing assets;
(d) at least 15% of its assets are to be comprised of weekly maturing assets, reverse repurchase agreements which can be terminated by giving prior notice of five working days or cash which can be withdrawn by giving prior notice of five working days. A standard MMF is n
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