Regulation (EU) 2017/1131 of the European Parliament and of the CouncilShow full title

Regulation (EU) 2017/1131 of the European Parliament and of the Council of 14 June 2017 on money market funds (Text with EEA relevance)

Article 37U.K. Reporting to [F1the FCA]

1.For each MMF that it manages, the manager of the MMF shall report information to the [F2FCA] on at least a quarterly basis.

By way of derogation from the first subparagraph, for an MMF whose assets under management in total do not exceed EUR 100 000 000, the manager of the MMF shall report to the [F2FCA] on at least an annual basis.

F3...

2.The information reported pursuant to paragraph 1 shall comprise the following points:

(a)the type and characteristics of the MMF;

(b)portfolio indicators such as the total value of assets, NAV, WAM, WAL, maturity breakdown, liquidity and yield;

(c)the results of stress tests and, where applicable, the proposed action plan;

(d)information on the assets held in the portfolio of the MMF, including:

(i)

the characteristics of each asset, such as name, country, issuer category, risk or maturity, and the outcome of the internal credit quality assessment procedure;

(ii)

the type of asset, including details of the counterparty in the case of derivatives, repurchase agreements or reverse repurchase agreements;

(e)information on the liabilities of the MMF, including:

(i)

the country where the investor is established;

(ii)

the investor category;

(iii)

subscription and redemption activity.

If necessary and duly justified, [F4the FCA] may solicit additional information.

3.In addition to the information referred to in paragraph 2, for each LVNAV MMF that it manages, the manager of an MMF shall report the following:

(a)every event in which the price of an asset valued by using the amortised cost method in accordance with the first subparagraph of Article 29(7) deviates from the price of that asset calculated in accordance with Article 29(2), (3) and (4) by more than 10 basis points;

(b)every event in which the constant NAV per unit or share calculated in accordance with Article 32(1) and (2) deviates from the NAV per unit or share calculated in accordance with Article 30 by more than 20 basis points;

(c)every event in which a situation mentioned in Article 34(3) occurs and the measures taken by the board in accordance with points (a) and (b) of Article 34(1).

4.[F5The FCA may make] technical standards to establish a reporting template that shall contain all the information referred to in paragraphs 2 and 3.

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Textual Amendments