As the Securities and Exchange Commission (SEC) considers imposing further regulations on money market funds, those close to the $2.6 trillion industry say the revisions are unnecessary, could threaten the very existence of the 40-year-old business and would limit access to a vital source of funding for state and local governments.

On the securitization front, as ASR's Nora Colomer writes in the cover story for the magazine's July edition, these regulations can lead to the exit of money market funds from the ABCP market. These funds comprise at least 30% of the investor base of asset-backed commercial paper.

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