What is the effect of removing rating-based regulation? Evidence from money market funds

Detalhes bibliográficos
Autor(a) principal: Marques, João Gonçalo Maia
Data de Publicação: 2021
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/122924
Resumo: This paper studies the effect of removing rating-based regulation, using as case of study the SEC removal of certain references to credit ratings in money market funds’ legislation. By making use of linear regression models, the funds’ asset allocation preferences were studied for the period surrounding the law amendments. The evidence suggests that the law amendments produced effects at an early stage. Additionally, the effects resulted in a movement towards securities perceived in the market as safer and a decreasing gap between the asset allocation preferences of prime and taxable money market fund types.
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spelling What is the effect of removing rating-based regulation? Evidence from money market fundsDebt marketMoney market fundsRegulationCredit ratingsAsset allocationDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis paper studies the effect of removing rating-based regulation, using as case of study the SEC removal of certain references to credit ratings in money market funds’ legislation. By making use of linear regression models, the funds’ asset allocation preferences were studied for the period surrounding the law amendments. The evidence suggests that the law amendments produced effects at an early stage. Additionally, the effects resulted in a movement towards securities perceived in the market as safer and a decreasing gap between the asset allocation preferences of prime and taxable money market fund types.Ottonello, GiorgioRUNMarques, João Gonçalo Maia2021-08-22T19:46:53Z2021-01-252021-012021-01-25T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/122924TID:202740366enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T05:04:25Zoai:run.unl.pt:10362/122924Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:44:54.101749Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv What is the effect of removing rating-based regulation? Evidence from money market funds
title What is the effect of removing rating-based regulation? Evidence from money market funds
spellingShingle What is the effect of removing rating-based regulation? Evidence from money market funds
Marques, João Gonçalo Maia
Debt market
Money market funds
Regulation
Credit ratings
Asset allocation
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short What is the effect of removing rating-based regulation? Evidence from money market funds
title_full What is the effect of removing rating-based regulation? Evidence from money market funds
title_fullStr What is the effect of removing rating-based regulation? Evidence from money market funds
title_full_unstemmed What is the effect of removing rating-based regulation? Evidence from money market funds
title_sort What is the effect of removing rating-based regulation? Evidence from money market funds
author Marques, João Gonçalo Maia
author_facet Marques, João Gonçalo Maia
author_role author
dc.contributor.none.fl_str_mv Ottonello, Giorgio
RUN
dc.contributor.author.fl_str_mv Marques, João Gonçalo Maia
dc.subject.por.fl_str_mv Debt market
Money market funds
Regulation
Credit ratings
Asset allocation
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Debt market
Money market funds
Regulation
Credit ratings
Asset allocation
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description This paper studies the effect of removing rating-based regulation, using as case of study the SEC removal of certain references to credit ratings in money market funds’ legislation. By making use of linear regression models, the funds’ asset allocation preferences were studied for the period surrounding the law amendments. The evidence suggests that the law amendments produced effects at an early stage. Additionally, the effects resulted in a movement towards securities perceived in the market as safer and a decreasing gap between the asset allocation preferences of prime and taxable money market fund types.
publishDate 2021
dc.date.none.fl_str_mv 2021-08-22T19:46:53Z
2021-01-25
2021-01
2021-01-25T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/122924
TID:202740366
url http://hdl.handle.net/10362/122924
identifier_str_mv TID:202740366
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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