Citi Swoops into Money Market Monitoring
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Monday, May 24, 2010

Citi Swoops into Money Market Monitoring

Citi Global Transaction Services's investor services unit has launched new offerings to help its mutual fund clients comply the new money market regulations from the SEC. The service will help firms with the amended reporting and disclosure requirements and will assist with monitoring liquidity, maturity and credit quality limits.

"Citiís expanded suite of money market capabilities will enable our clients to respond swiftly and thoroughly to the required regulations without additional resources or infrastructure investments," stated Bob Wallace, North America head of Citiís Securities and Fund Services.

Citi has also enhanced its monitoring capabilities for the new weighted average maturity limits. The offering makes daily and weekly liquid asset level measurements and tests the weighed average life of the money market portfolio. Citi also supports the stress test requirement and has analytical tools that make judgments based on particular hypothetical events.

State Street and BNY Mellon have both come out with services for the new money market regulations this month as well. BNY Mellon is running the stress tests for all six of ING Fund's money market products.

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