Money Market Funds and Financial Stability: Comparing Sweden to the U.S. and Iceland

Maria Strömqvist () and Gudrun Gunnarsdottir ()
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Maria Strömqvist: Brummer Multi-Strategy
Gudrun Gunnarsdottir: Sveriges Riksbank

Journal of Financial Transformation, 2011, vol. 32, 23-34

Abstract: The financial crisis, in particular the collapse of Lehman Brothers, has revealed that money market funds are more risky than had previously been believed. We discuss the importance of money market funds for financial stability and whether situations similar to those during the recent crisis in the U.S. and Icelandic markets could arise in Sweden. We find that there are similarities between the Swedish and Icelandic funds, but few similarities with the U.S. funds. In Sweden, as was the case in Iceland, the assets under management are concentrated in a few funds and the connection to the major banks is strong.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jofitr:1466

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