WASHINGTON — Treasury Secretary Tim Geithner said Thursday a stymied plan by U.S. regulators to reform money market mutual funds must be allowed to move forward.

In his second appearance on Capitol Hill in two days, Geithner told Senate Banking Committee members that a proposal by the Securities and Exchange Commission should be released to the public for comment as soon as possible, warning that such funds remain vulnerable to potential runs in the event of another financial crisis.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.