Open-end mutual funds engage in liquidity transformation because promise one-day redemptions on assets, even when the invested assets have low

Open-end mutual funds engage in liquidity transformation because promise one-day redemptions on assets, even when the invested assets have low or uncertain liquidity -> in March 2020 they became major drivers of the “dash for cash”. We need REGULATION!
federalreserve.gov/econres/notes/… https://t.co/asTbMYXP3i

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