The Washington Post writes "SEC grapples with task of purging credit ratings from rules for money-market funds". It says, "Now, as regulators struggle to rewrite the rules, they are confronting a deeper question: What should replace credit ratings? The Securities and Exchange Commission grappled with the issue Wednesday as it turned to the task of purging credit ratings from the rules for money-market funds." Bloomberg writes "SEC Weighs Replacing Credit Ratings in Money-Market Fund Rules", which says, "The U.S. Securities and Exchange Commission may propose dropping credit-rating references from money-market fund regulations and using a different method for evaluating their portfolios. SEC commissioners may seek comment on a proposed rule to instead use internal assessments for money market funds, according to a fact sheet released by the agency. The funds themselves would be responsible for weighing the credit quality of the securities in the proposal, which would be open for public comment until April 25."
