<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/image-6-1778752964.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1536" height="1024" original-src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/image-6-1778752964.png"/></p>
<p>英国政府周四确认了改革货币市场基金监管规则的计划，该领域自 2020 年 3 月市场动荡以来一直受到密切监管。</p>
<p>这些改革是在货币市场基金在 COVID-19 引发的现金抢购期间面临大量赎回和流动性压力后提出的，这暴露了短期融资市场的脆弱性。</p>
<p>政府还确认，新指导方针将要求货币市场基金持有更高水平的流动性。</p>
<p>修订后的框架预计将在年底前实施，需获得立法者的批准。</p>
<h2>旨在增强市场韧性的改革</h2>
<p>英国金融监管机构此前在 2023 年就拟议的改革进行了咨询。</p>
<p>这些措施旨在使基金在市场压力期间更容易出售资产。</p>
<p>此次咨询是基于英格兰银行的建议，该银行表示，英镑货币市场基金领域需要变得更加有韧性。</p>
<p>英镑货币市场基金被企业广泛用于日常融资操作和过夜现金管理。</p>
<p>在 2020 年 3 月出现严重市场干扰后，监管机构越来越关注这一领域。</p>
<p>当时，投资者迅速从货币市场基金中撤回现金，因为金融市场对 COVID-19 大流行的影响日益加剧做出了反应。</p>
<p>大规模的资金流出在该领域造成了流动性压力，并引发了政策制定者对金融稳定更广泛风险的担忧。</p>
<p>最新的改革旨在减少未来类似压力事件的可能性，并增强该领域应对突发赎回压力的能力。</p>
<h2>计划提高流动性要求</h2>
<p>根据拟议的变更，货币市场基金将被要求维持更高的流动性缓冲。</p>
<p>政府在声明中没有具体说明确切的流动性阈值。</p>
<p>然而，它确认，如果获得立法者的批准，更新的制度将在年底前推出。</p>
<p>这一举措反映了监管机构更广泛的努力，以确保基金在高度波动期间能够满足投资者的赎回需求，而不会引发无序的资产销售。</p>
<p>政府表示，金融行为监管局将很快发布声明，提供有关计划改革的更多细节。</p>
<h2>关注 2020 年市场压力后的稳定性</h2>
<p>全球监管机构自 2020 年 3 月以来继续审查货币市场基金的韧性。</p>
<p>在英国，当局特别关注英镑货币市场基金领域，因为它在短期企业融资和现金管理活动中至关重要。</p>
<p>英格兰银行此前建议进行改革，以提高该领域抵御金融压力的能力。</p>
<p>这些拟议的措施是加强疫情期间市场干扰后金融系统内部保护措施的更广泛努力的一部分。</p>
<p>随着政府正式确认改革，英国正在推进收紧对该领域的监管并改善在该国运营的货币市场基金的流动性标准的计划。</p>
<p>该文章的首发为《英国推进货币市场基金改革以提高行业韧性》，出现在 Invezz 上。</p>

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<p>英国政府已确认计划改革货币市场基金的监管，以增强该行业的韧性，原因是 COVID-19 大流行期间经历的流动性压力。这些改革将要求基金维持更高的流动性水平，并预计将在年底前实施，待立法批准。这些变化旨在防止未来市场压力事件的发生，并确保基金能够满足投资者的赎回请求，而不会导致资产销售的干扰。金融行为监管局将很快提供有关改革的更多细节</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/image-6-1778752964.png" alt="" original-src="https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/image-6-1778752964.png"/></p>
<p>The British government on Thursday confirmed plans to reform rules governing money market funds, a sector that has remained under close regulatory scrutiny since the market turmoil of March 2020.</p>
<div class="lb-trans"><p>英国政府周四确认了改革货币市场基金监管规则的计划，该领域自 2020 年 3 月市场动荡以来一直受到密切监管。</p>
</div><p>The reforms come after money market funds faced heavy redemptions and liquidity pressures during the COVID-19-induced dash for cash, which exposed vulnerabilities in short-term funding markets.</p>
<div class="lb-trans"><p>这些改革是在货币市场基金在 COVID-19 引发的现金抢购期间面临大量赎回和流动性压力后提出的，这暴露了短期融资市场的脆弱性。</p>
</div><p>The government also confirmed that new guidance would require money market funds to hold higher levels of liquidity.</p>
<div class="lb-trans"><p>政府还确认，新指导方针将要求货币市场基金持有更高水平的流动性。</p>
</div><p>The revised framework is expected to be implemented by the end of the year, subject to approval by lawmakers.</p>
<div class="lb-trans"><p>修订后的框架预计将在年底前实施，需获得立法者的批准。</p>
</div><h2>Reforms aimed at strengthening market resilience</h2>
<div class="lb-trans"><h2>旨在增强市场韧性的改革</h2>
</div><p>Britain’s financial regulator had previously consulted on proposed reforms in 2023.</p>
<div class="lb-trans"><p>英国金融监管机构此前在 2023 年就拟议的改革进行了咨询。</p>
</div><p>The measures were designed to make it easier for funds to sell assets during periods of market stress.</p>
<div class="lb-trans"><p>这些措施旨在使基金在市场压力期间更容易出售资产。</p>
</div><p>The consultation followed recommendations from the Bank of England, which said the sterling money market funds sector needed to become more resilient.</p>
<div class="lb-trans"><p>此次咨询是基于英格兰银行的建议，该银行表示，英镑货币市场基金领域需要变得更加有韧性。</p>
</div><p>Sterling money market funds are widely used by companies for day-to-day funding operations and for parking cash overnight.</p>
<div class="lb-trans"><p>英镑货币市场基金被企业广泛用于日常融资操作和过夜现金管理。</p>
</div><p>Regulators have increasingly focused on the sector after the severe market disruptions seen in March 2020.</p>
<div class="lb-trans"><p>在 2020 年 3 月出现严重市场干扰后，监管机构越来越关注这一领域。</p>
</div><p>At the time, investors rapidly withdrew cash from money market funds as financial markets reacted to the growing impact of the COVID-19 pandemic.</p>
<div class="lb-trans"><p>当时，投资者迅速从货币市场基金中撤回现金，因为金融市场对 COVID-19 大流行的影响日益加剧做出了反应。</p>
</div><p>The sharp outflows created liquidity strains across the sector and prompted concerns among policymakers about broader risks to financial stability.</p>
<div class="lb-trans"><p>大规模的资金流出在该领域造成了流动性压力，并引发了政策制定者对金融稳定更广泛风险的担忧。</p>
</div><p>The latest reforms are intended to reduce the likelihood of similar stress events in the future and strengthen the sector’s ability to cope with sudden redemption pressures.</p>
<div class="lb-trans"><p>最新的改革旨在减少未来类似压力事件的可能性，并增强该领域应对突发赎回压力的能力。</p>
</div><h2>Higher liquidity requirements planned</h2>
<div class="lb-trans"><h2>计划提高流动性要求</h2>
</div><p>Under the proposed changes, money market funds will be required to maintain higher liquidity buffers.</p>
<div class="lb-trans"><p>根据拟议的变更，货币市场基金将被要求维持更高的流动性缓冲。</p>
</div><p>The government did not specify the exact liquidity thresholds in its statement.</p>
<div class="lb-trans"><p>政府在声明中没有具体说明确切的流动性阈值。</p>
</div><p>However, it confirmed that the updated regime would be introduced before the end of the year if approved by lawmakers.</p>
<div class="lb-trans"><p>然而，它确认，如果获得立法者的批准，更新的制度将在年底前推出。</p>
</div><p>The move reflects broader efforts by regulators to ensure funds can meet investor withdrawals during periods of heightened volatility without triggering disorderly asset sales.</p>
<div class="lb-trans"><p>这一举措反映了监管机构更广泛的努力，以确保基金在高度波动期间能够满足投资者的赎回需求，而不会引发无序的资产销售。</p>
</div><p>The government said the Financial Conduct Authority would release a statement shortly providing additional details on the planned reforms.</p>
<div class="lb-trans"><p>政府表示，金融行为监管局将很快发布声明，提供有关计划改革的更多细节。</p>
</div><h2>Focus remains on stability after 2020 market stress</h2>
<div class="lb-trans"><h2>关注 2020 年市场压力后的稳定性</h2>
</div><p>Regulators globally have continued to examine the resilience of money market funds since the events of March 2020.</p>
<div class="lb-trans"><p>全球监管机构自 2020 年 3 月以来继续审查货币市场基金的韧性。</p>
</div><p>In Britain, authorities have focused particularly on the sterling money market funds sector because of its importance in short-term corporate funding and cash management activities.</p>
<div class="lb-trans"><p>在英国，当局特别关注英镑货币市场基金领域，因为它在短期企业融资和现金管理活动中至关重要。</p>
</div><p>The Bank of England previously recommended reforms aimed at improving the sector’s ability to withstand periods of financial stress.</p>
<div class="lb-trans"><p>英格兰银行此前建议进行改革，以提高该领域抵御金融压力的能力。</p>
</div><p>The proposed measures formed part of a broader effort to strengthen safeguards within the financial system after the pandemic-era market disruption.</p>
<div class="lb-trans"><p>这些拟议的措施是加强疫情期间市场干扰后金融系统内部保护措施的更广泛努力的一部分。</p>
</div><p>With the government now formally confirming the reforms, Britain is moving ahead with plans to tighten oversight of the sector and improve liquidity standards for money market funds operating in the country.</p>
<div class="lb-trans"><p>随着政府正式确认改革，英国正在推进收紧对该领域的监管并改善在该国运营的货币市场基金的流动性标准的计划。</p>
</div><p>The post UK advances money market fund reforms to improve sector resilience appeared first on Invezz</p>
<div class="lb-trans"><p>该文章的首发为《英国推进货币市场基金改革以提高行业韧性》，出现在 Invezz 上。</p>
</div>

UK advances money market fund reforms to improve sector resilience

- 英国政府确认将改革货币市场基金监管规则，以增强市场韧性。  
- 改革要求货币市场基金维持更高的流动性，并计划年底前实施。  
- 此次调整旨在提升应对突发赎回压力的能力，减少未来市场干扰风险。

英国推进货币市场基金改革以增强行业的抗风险能力