ESMA, the EU's financial markets regulator, is consulting on a new method for updating stress test parameters within the Money Market Funds (MMF) framework. This new approach involves replacing annual amendments to the Guidelines with an annual web-based publication of calibration parameters. The existing Guidelines will remain in place, outlining the stress testing framework and methodology. The website will act as a central hub for accessing the latest updated parameters. This simplification aims to make the update process easier and improve access to the information. Market participants can then apply the updated parameters instantly upon approval. This change aligns with ESMA's Simplification and Burden Reduction (SBR) initiative, reducing compliance and supervisory requirements. The deadline for feedback on the consultation is August 6, 2026. ESMA will review the feedback and aims to release a final report in the second half of 2026. The new parameter update procedure is anticipated to begin at the end of 2026. The consultation paper provides details on stress test scenarios under the MMF Regulation.