ICI Viewpoints
ICI Global Welcomes the Announcement of More Stock Connects in Asia Pacific
In response to the announcement about a launch date for the Taiwan Stock Exchange and Singapore...
The IMF Quietly Changes Its Data, but Not Its Views
On Friday, April 10, we pointed out that the International Monetary Fund (IMF) apparently had vastly...
Federal Reserve Reverse Repo Facility Helps Stabilize Short-Term Money Markets
Following a pattern observed at the end of recent quarters, money market fund holdings of European...
More Unfounded Speculation on Bond ETFs and Financial Stability
A recent column in the Financial Times warns of “another accident in waiting” in the growth of fixed...
The IMF Is Entitled to Its Opinion, but Not to Its Own Facts
On Wednesday, the International Monetary Fund released its latest Global Financial Stability Report...
On Fiduciary Rule, New York Times Relies on Fatally Flawed Research
Today I submitted the following letter to the editor of the New York Times:
Designation’s Vast Reach into Investor Portfolios
On Wednesday, March 25, I’ll testify before the Senate Committee on Banking, Housing, and Urban...
Once Again, Information Moves Markets
Treasury yields fell sharply today and the stock market jumped. Wouldn’t it be nice if mutual funds...
Does Liquidity in ETFs Depend Solely on Authorized Participants?
ICI recently conducted a survey of its members that sponsor exchange-traded funds (ETFs) to collect...
Why Long-Term Fund Flows Aren’t a Systemic Risk: Multi-Sector Review Shows the Same Result
In a recent blog post discussing why we believe flows from long-term mutual funds do not pose risk...
Getting the Numbers Right on Investment Advice for Retirement Savers
As the Wall Street Journal noted this morning, ICI has deep concerns about the data used in a White...
Simple Answers to the Federal Reserve’s Quandaries
The Federal Reserve System can’t get past its perplexities on the role of mutual funds in financial...
Why Long-Term Fund Flows Aren’t a Systemic Risk: Understanding the Data on Institutional and Retail Investors
In two previous ICI Viewpoints posts, I discussed the muted response of investors in long-term funds...
Why Long-Term Fund Flows Aren’t a Systemic Risk: Plus Ça Change, Plus C’est La Même Chose
As discussed in a previous ICI Viewpoints post, regulators and others have voiced concerns that long...
Why Long-Term Fund Flows Aren’t a Systemic Risk: Past Is Prologue
A recent Brookings Institution conference on Asset Management, Financial Stability, and Economic...
European Banks Borrow Less from MMFs; the Federal Reserve Borrows More
As we discussed in April and July of last year, due to regulatory pressures European banks generally...
Plenty of Players Provide Liquidity for ETFs
A recent article in the Financial Times’ FT Alphaville blog (“Lies, Damned Lies, and Liquidity...
What’s Driving Retirement Plan Access?
Most workers who are likely to have the ability to save and who are focused primarily on saving for...
The IMF Makes All of OFR’s Mistakes—And More
The International Monetary Fund (IMF) just released its latest Global Financial Stability Report. In...
Bloomberg Ignores the Evidence on Bond ETFs
In response to “Pimco ETF Probe Spotlighting $270 Billion Market Vexing FSB,” we posted the...
Why Regulated Funds Are a Relatively Stable Source of Foreign Investment for Emerging Economies
The press and policymakers focus a great deal of attention on flows to U.S. and European regulated...
A Look Inside ETFs and ETF Trading
Investors in exchange-traded funds (ETFs) are trading shares with each other far more than they are...
Securities Lending by Mutual Funds, ETFs, and Closed-End Funds: Are the Risks Systemic?
The Financial Stability Oversight Council (FSOC), the U.S. Treasury’s Office of Financial Research...
Securities Lending by Mutual Funds, ETFs, and Closed-End Funds: Regulators’ Concerns
This post is the third in a series that focuses on securities lending by U.S. regulated funds—mutual...
Securities Lending by Mutual Funds, ETFs, and Closed-End Funds: The Market
As the potential risks of securities lending are discussed and debated by the Financial Stability...
Statement of the Investment Company Institute at Senate Finance Committee Hearing on “Retirement Savings 2.0: Updating Savings Policy for the Modern Economy”
This statement was given on behalf of ICI by Brian Reid, chief economist, at the Senate Finance...
Securities Lending by Mutual Funds, ETFs, and Closed-End Funds: The Basics
The Financial Stability Oversight Council (FSOC) recently announced that it has directed its staff...
Happy Birthday ERISA! Congratulations on 40 Years
Today marks the 40th birthday of the Employee Retirement Income Security Act (ERISA). Signed into...
“Preemptive Runs” and Money Market Fund Gates and Fees: Theory Meets Practice
A recent post on the blog of the Federal Reserve Bank of New York discusses the possibility that new...
Sizing Up Mutual Fund and ETF Investment in Emerging Markets
In coming decades, emerging market (EM) economies will need substantial new capital to accompany and...