Anthony Carfang, Managing Director of Treasury Strategies, a division of Novantas, Inc. testified today at the U.S. House of Representatives on “The Impact of Regulations on Short-Term Financing.” Treasury Strategies supports well-thought-out efforts to improve economic efficiency and to reduce the likelihood of another systemic failure.
Citing experiences of Treasury Strategies’ corporate clients, Carfang raised serious concerns about unintended consequences of the simultaneous implementation of Dodd-Frank, Basel III, Money Market Fund regulations:
- Impaired market liquidity
- Higher costs and less certainty for borrowers
- Reduced access to credit for businesses
- Reduced access to capital for state and local governments
- Reduced capacity for economic growth
- Money Market Mutual Funds, a primary cash management
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