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This final report includes the amendments to ESMA's Guidelines on Money Market Funds (MMF) according to the definition of ‘sole and mechanistic reliance' contained therein.
This common definition aims at harmonising the different interpretations of ‘sole and mechanistic reliance' in the ESAs regulations and guidelines.
This definition, to which the ESAs intend to refer to in all their future guidelines, recommendations and draft technical standards, was developed taking into account all the comments received during the public consultation that ended on 5 December, 2013.