Reuters: PBOC publishes rules regulating major money market funds

China’s central bank published rules regulating major money market funds aiming to better supervise and monitor risks while promoting the smooth and healthy development of fund products. The rules will come into effect on May 16.

Money market funds with net assets of more than 200 billion yuan ($29.08 billion) or counting more than 50 million investors in 20 consecutive trading days should fall in the scope of the assessment, the People’s Bank of China (PBOC) said in an online statement.

The PBOC urged fund managers to comprehensively and prudently assess the impact of such major money market funds on investors, the broad capital markets and the financial system.

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