On 29 June 2021, the European Securities and Markets Authority (ESMA) published guidelines that apply in relation to Article 28 of the Money Market Funds Regulation and establish common reference parameters for the stress test scenarios to be included in the stress tests conducted by money market funds (MMFs) or managers of MMFs in accordance with that Article. The guidelines will apply from two months after their publication on ESMA’s website in all EU official languages. With respect to the parts in red on the guidelines, these apply from the dates specified in Articles 44 and 47 of the MMF Regulation.
