EU sets out first stress test for money market funds
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LONDON (Reuters) - The European Union's trillion euro money market funds sector must complete its first "stress test" to assess its ability to cope with market shocks by 2020 under new guidelines from the bloc's regulators published on Friday.The European Securities and Markets Authority (ESMA) said money market funds (MMFs) and their managers are expected to measure the impact of a range of stress test scenarios."Money market funds offer high liquidity at lower risk than other funds,..