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Money market contact group (MMCG)

Topics
Composition
Meetings

Topics

The MMCG is chaired by the Director General of the ECB Directorate General for Market Operations with the Deputy Director General of the same Directorate acting as the ECB member of the group. The MMCG has around 20 members representing different commercial banks from all over Europe. The members are chosen with regard to the bank they represent, their job responsibilities within that bank and its current role in the market. The composition of the group is reviewed on an annual basis. For institutions interested in becoming member, please contact the secretary of the group (julija.jakovicka@ecb.europa.eu). In addition to the members, representatives from the euro area national central banks, which have the status of observer, may follow the discussions in the group.

Work programme for 2013 - last update: 25 March 2013

Composition

MMCG Members meeting, 18 September 2012

The MMCG is chaired by the Director General of the ECB Directorate General for Market Operations with the Deputy Director General acting as the ECB member of the group. The MMCG has around 20 members representing different commercial banks from all over Europe. The members are chosen with regard to the bank they represent, their job responsibilities within that bank and its current role in the market. The composition of the group is reviewed on an annual basis. In addition to the members, representatives from the euro area national central banks, which have the status of observer, may follow the discussions in the group.

List of members - last update: 25 March 2013

Meetings

The MMCG usually meets with a quarterly frequency.

Year	Date	Agenda	Summary	Other documents
2013	10 December	-	-	-
	3 September	-	-	-
	17 June	Agenda	-	-
	18 March	Agenda	Summary	Item 1 – (i): Main findings of the quarterly MMCG money market survey Item 1 – (ii): Review of the latest market developments Item 1 – (iii): Update on the STEP market developments Item 2 – (i): Financial transaction tax proposal Item 2 – (ii): Financial transaction tax – potential impact on the money market [1.07 MB]
2012	10 December	Agenda	Summary	Item 1 – (i): ICMA ERC: Establishing a loan repo system Item 1 – (ii): Syndicated loan market Item 4: European money market: a proposal for a more efficient unsecured market Item 5: Review of latest market developments [2.09 MB]
	18 September	Agenda	Summary	Item 2: Review of the latest market developments [2.22 MB] Item 3: Results of the ECB Euro Money Market Survey 2012 Group picture [1.29 MB]
	25 June	Agenda	Summary	Item 1 - (ii): The MMCG Survey on Banks’ Risk Management Practices [1.42 MB] Item 2: Review of the latest market developments [2.64 MB] Item 3: Update on the Short Term European Paper (STEP) developments
	21 March	Agenda	Summary	Item 1 - (i): The Eurosystem's collateral framework Item 1 - (ii): Temporary expansion of collateral eligibility criteria - an Italian perspective Item 1 - (iii): New Eurosystem's measures on collateral - impact on French banks Item 1 - (iv): Changes to the Eurosystem's collateral framework - a Spanish perspective Item 2: Review of the latest market developments Item 3: Proposals for the enhancement of the Euro Money Market Survey Item 4: postponed
	1 March	Teleconference	Summary	-
2011	14 December	Agenda	Summary	Item 2: Main findings of the latest major money market surveys Item 3: Update on the most recent repo market developments Item 4: Review of the latest market developments
	5 September	Agenda	Summary	Item 1 - i) Update on Basel III Item 1 - ii) Findings of the MMCG Survey Item 1 - iii) Business impact Item 1 - iv)- postponed Item 2 - Recent market developments Group picture [1.13 MB]
	1 June	Agenda	Summary	Item 1 - The role and the impact of CCPs in the repo market CCP procyclicality Eurex Clearing Margining LCH Margining Item 2 - Recent market developments
	14 March	Agenda	Summary	Item 1 - Survey on liquidity risk governance [2.18 MB] Item 2 - Large exposure rules Item 3 - Autonomous factors Item 4 - Recent market developments
2010	15 December	Agenda	Summary	Item 1: Update on the CCBM2 and T2S projects [2.11 MB] Item 2: The findings of the latest ICMA repo market survey Item 3: Review of the latest market developments
	8 September	Agenda	Summary	Item 1: The Basel Committee’s proposal for an international liquidity risk framework Item 2: Initial findings of the ECB Money Market Survey 2010 Item 3: Review of the latest market developments Group picture
	18 May	Agenda	Summary	Item 1 - Recent market developments Item 1 - Recent repo market developments Item 3 - Public consultation to the BCBS proposal for an international liquidity risk framework
	7 May	Teleconference	Summary	-
	10 February	Agenda	Summary	Item 1 - Managing liquidity risk with an internal model Item 2 - The Basle Committee's proposal for an international liquidity risk framework Item 3 - Recent market developments
2009	19 November	Agenda	Summary	Item 1 - Recent market developments Item 2 - Liquidity regulation in the UK Item 3 - ECB money market survey ICMA repo survey
	1 September	Agenda	Summary	Group picture of MMCG at meeting on 1 September 2009 Item 1: Development of robust and internationally consistent approaches for liquidity supervision: The current state of international initiatives Large exposure legislation Item 2: Upcoming changes to the liquidity regulation in France Item 4: Review of the initial phase of the ECB’s Covered Bond Purchase Programme Item 5: Review of the market developments since the previous meeting
	19 May	Agenda	Summary	Item 1 - Review of recent market developments Item 3 - Update on repo market developments
	18 February	Agenda	Summary	Item 1 - Review of recent market developments Item 2 a - Update on the Risk Control Framework Item 2 b - Update on the eligibility and the use of collateral Item 3 - Changes to banks' internal organisations , download , download
2008	18 November	Agenda	Summary	Recent market developments Repo market developments CP market impact of the US CPFF Update on the collateral framework
	29 October	Teleconference	Summary	-
	10 October	Teleconference	Summary	-
	25 September	Teleconference	Summary	-
	16 September	Teleconference	Summary	-
	11 September	Agenda	Summary	Group picture Initial findings of the 2008 ECB Money Market Survey Update on TARGET2 Securities Biennial review of risk control measures Recent market developments
	27 May	Agenda	Summary	Initiatives in the field of liquidity risk management Repo market analysis Recent market developments STEP update Step statistics
	17 March	Teleconference	Summary	-
	29 February	Agenda	Summary	Eurex Repo Update on CCBM2 Recent Market developments
2007	4 December	Agenda	Summary	The ECB Money Market Survey 2007 Recent money market developments The impact of Basel II on treasury instruments An update on the Eonia Swap Index
	27 September	Agenda	Summary	Group picture Credit claims and ABS as Eurosystem eligible collateral Update on TARGET2-Securities Recent money market developments
	31 May	Agenda	Summary	Recent Money Market Developments Part I: The impact of collateral on the relationship between ECB tender rates and 1-week repo rates [1.93 MB] Part II: The impact of collateral on the relationship between ECB tender rates and 1-week repo rates [3.01 MB] An update on the STEP project The principles of the CCBM II project
	14 February	Agenda	Summary	Recent money market developments Banknotes in circulation [1.14 MB]
2006	23 November	Agenda	Summary	Group picture Work programme for 2007 Money Markets Survey 2006 [2.22 MB] TARGET2 Securities Recent money market developments
	20 September	Agenda	Summary	Joint letter of the Chairmen of the MMCG and the COGESI on credit claims Update on credit claims Recent money market developments Update on the STEP market
	17 May	Agenda	Summary	Banks' organisation of money market activities - Results of a survey among the members of the MMCG Recent Money Market Developments
	16 February	Agenda	Summary	Summary of the main findings of the comparison between the ICMA European Repo Survey and the ECB Euro Money Market Study A comparative analysis of the ICMA European Repo Survey and the ECB Money Market Data Recent Money Market Developments

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