New instrument aims to fill a void created as CDOR is retired
High rates and U.S. banking turmoil drove flight to money market funds
Progress to address liquidity mismatch has been uneven, review finds
Transition to be aided by expanding fiduciary requirements
Year over year, redemptions increased 30.5%
Reforms aim to address challenges that arose during 2020 market stress
The sector's assets and share of global assets dropped last year, according to the FSB
Industry trade groups remain hesitant about sweeping reforms
Assets drop as mutual funds remain in redemptions, ETFs stay positive
High valuations curb return potential despite strong economic growth