Nov 14 The BNY Mellon Corp executive who
oversees the bank's $322 billion cash management business said
on Wednesday some of the money-market fund reforms proposed by a
board of top regulators have merit.
Linking the size of capital buffers to risk taking and
diversification would be a positive step. Curtis Arledge, BNY
Mellon's chief executive of investment management, said at a
Bank of America Merrill Lynch investment conference in New York.
He said that under the Financial Stability Oversight
Council's proposal to link the size of capital buffers to
diversification and risk, diversified money funds taking less
risk would not have to set aside as much capital as more