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Fed’s Quarles Says Regulators Will Introduce Foreign Exchange Fund Reforms In July

WASHINGTON, Mar 30 (Reuters) – A group of financial regulators will present recommendations in July to improve the resilience of funds in foreign exchange markets and minimize the possibility that they will need government support in the future, said Federal Reserve Vice Chairman Randal. Quarles, Tuesday.

Quarles, in his capacity as head of the Financial Stability Board, said the group will focus on the relationship between money market funds and the short-term financing market, particularly the commercial paper market, after a collapse in liquidity last March forced a government intervention.

(Reporting by Pete Schroeder; edited in Spanish by Carlos Serrano)

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