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Opalesque Exclusive: Financial Stability Forum suggests being 'regularly' updated on adoption of Working Group's standards by hedge funds, IMF and SWFs to create voluntary rules
From Kirsten Bischoff, New York: Addressing the current challenges of the financial markets, the Financial Stability Forum (FSF) gathered in Rome last week to determine policy options. Those attending included International Financial Institutions (IMF, Workd Bank, etc), National Authorities from Europe, Asia, and North America (Department of the Treasury, Securities and Exchange Commission, etc), Bank experts, and International Regulatory and Supervisory Groupings.
Current risk and response
The FSF noted that although “necessary deleveraging has been ongoing since last summer, the process is being complicated by the lack of transparency and valuation difficulties for some credit instruments.” They recommend that financial institutions continue to enhance their disclosures of risk exposures and to refine valuation judgments “concerning structured credit activities and poorly performing assets on and off the balance sheet.” The FSF went on to note that several steps are currently taking place on a national level to facilitate further adjustment and dampen the impact on the economy. These steps include: continuous contact and close monitoring of developments, working with firms to identify and properly manage risk, provide...................... To view our full article Click here
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