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The September 2008 run on money market funds ("MMFs"), during the financial crisis underscored the vulnerability of the financial system to systemic risk.
In 1998, Congress requested the President's Working Group on Financial Markets to develop policy with respect to over-the-counter derivative instruments.
In response to an increase in terrorism around the globe, the Terrorism Risk Insurance Act of 2002 required the President's Working Group on Financial Markets to analyze the long-term availability of terrorism risk insurance.
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