Post by Sapphire Capital on Aug 17, 2008 0:41:54 GMT 4
Highly Leveraged Institutions and Financial Stability: A Case for Regulation?
Jean-Pierre Roth
Swiss National Bank - Chairman of the Governing Board
LAW AND ECONOMICS OF RISK IN FINANCE, Peter Nobel and Marina Gets, eds., pp. 101-110, Schulthess, Zurich, 2007
U. of St. Gallen Law & Economics Working Paper No. 2008-18
Abstract:
Highly leveraged institutions (HLIs), or hedge funds, are currently a hot topic, not least because of the deep distrust in them. HLIs are perceived as posing a high risk to financial stability not only because of having a significant share of trading volume in some market segments but also because of being important counterparties and clients providing a significant source of revenue for large international banks. This paper seeks to examine whether HLIs are indeed a threat to financial stability and, if yes, whether there is a need for regulation
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1206123_code720524.pdf?abstractid=1138204&mirid=3
Jean-Pierre Roth
Swiss National Bank - Chairman of the Governing Board
LAW AND ECONOMICS OF RISK IN FINANCE, Peter Nobel and Marina Gets, eds., pp. 101-110, Schulthess, Zurich, 2007
U. of St. Gallen Law & Economics Working Paper No. 2008-18
Abstract:
Highly leveraged institutions (HLIs), or hedge funds, are currently a hot topic, not least because of the deep distrust in them. HLIs are perceived as posing a high risk to financial stability not only because of having a significant share of trading volume in some market segments but also because of being important counterparties and clients providing a significant source of revenue for large international banks. This paper seeks to examine whether HLIs are indeed a threat to financial stability and, if yes, whether there is a need for regulation
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1206123_code720524.pdf?abstractid=1138204&mirid=3