The consultation paper provides a preliminary analysis of the possible risks that money market funds (MMFs) could pose to systemic stability and consults on an exhaustive range of policy options to address those risks. In its report, IOSCO analyzes the features of MMFs that make them vulnerable to risk, and explains some of the implications for policy options that they have including susceptibility to runs; importance in short-term funding and contagion effects; and importance for investors. In the consultation report, IOSCO asks its members and others to comment on options that fall within the following categories and are aimed at reinforcing the robustness and safety of money market funds: Options regarding a mandatory move to variable net asset value funds, or other structural alternatives, in an effort to lower investor expectations that MMFs are impervious to losses and reduce the potential for heightened run risk when a fund fails to live up to those expectations; options regarding MMF valuation and pricing frameworks that are aimed at increasing price transparency; options regarding liquidity management that seek to ensure that MMF managers are able to face redemption pressure at any time; and options to address reliance on ratings.