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

Author

Listed:
  • Strömqvist, Maria

    (Brummer Multi-Strategy)

  • Gunnarsdottir, Gudrun

    (Sveriges Riksbank)

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.

Suggested Citation

  • Strömqvist, Maria & Gunnarsdottir, Gudrun, 2011. "Money Market Funds and Financial Stability: Comparing Sweden to the U.S. and Iceland," Journal of Financial Transformation, Capco Institute, vol. 32, pages 23-34.
    • Handle: RePEc:ris:jofitr:1466
    as

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