| Top financial authorities discuss the hedge fund industry |
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| 12/09/2004 | |
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The Financial Stability Forum (FSF) was held amidst concerns about inflows of money to the hedge fund industry. Participants to the Forum, which gathers major financial authorities from across the world, discussed the impact of rising inflows to hedge funds on market functioning and on the risk profile of financial institutions. The FSF, whose last session was held on September 8th and 9th in Washington DC, "will continue to review developments with respect to hedge funds, drawing in part on the results of analyses being done by a number of bodies, at subsequent meeting", said the organisation in a release. The FSF was also the opportunity to hold talks about the vulnerabilities in the international financial markets, with this year's edition giving a particular attention to offshore financial centres. "Members felt generally that the macroeconomic backdrop for financial markets had improved since their previous meeting in Rome in March", said the FSF. "They noted strengthened levels of capital in the financial system and discussed potential sources of heightened market volatility and impairment of market liquidity". Ways to enhance the implementation of international regulatory standards were also discussed in the banking, securities and insurance sectors. "The FSF concluded that these matters merit further attention by international standard setters, working with the international financial institutions", the release said. The FSF's next meeting will be held in Tokyo on 11th March 2005. J.L. |
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