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The biggest Nordic bank is among an elite group of issuers undeterred by the most dramatic reform to hit the U.S. money market in over three decades. The clash in regulations has created a headache for issuers, Sulin said. The U.S. money market last year underwent the most sweeping change in more than 30 years, with funds giving up dollar-for-dollar guarantees for floating values after years of wrangling with regulators. But banks would rather issue longer-dated papers, Sulin said. The rules, which took effect on Oct. 14, also set new standards for the credit quality of the papers that money market funds can hold even as requirements for credit company ratings were removed.
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