Common definition of European MMF

The French Association of Corporate Treasurers (AFTE, Association Française des Trésoriers d’Entreprise) welcomes the CESR’s decision to set up a common definition of European money market funds in order to improve investor protection. AFTE is made up of 1,300 members representing the 1,000 largest French firms. It is the oldest association of corporate treasurers in the world, and plays an active role in the works of the European Association of Corporate Treasurers (EACT), which it helped to found. AFTE stresses out that this objective could be achieved only if a common definition is to be applied in all European countries and common ways of working are set up. First, we will provide a general overview of our current position in Part I. Our detailed answers to the consultation paper are described in part II for questions 1 to 6 and in part III for questions 7 to 19.