Antonio Garcia Pascual, Mr. Ranjit Singh, and Jay Surti
The paper’s analysis underscores the importance of the ongoing Financial Stability Board-led process of identifying policy options, involving national authorities and the International Organization of Securities Commissions and other standard setters. In this context, the global nature of the investment fund business and fungibility of financial flows makes it vital to ensure consistency of global policy choices that can secure financial stability by precluding regulatory arbitrage.
countries also have an important role through the policies outlined above to strengthen OEFs’ liquidityriskmanagement (LRM) and reduce risk of bad coordination, therefore reducing amplification potential at the source.
Several additional policy options are desirable to secure the gains to financial stability from this core set of reforms. First, policy makers need to obtain comprehensive and regular information on fund risk taking on a comparable basis across jurisdictions and markets which may call for them to prescribe a uniform measurement methodology to the
Incentive Issues and Market Frictions Confronting OEFs
Addressing Strategic Complementarities Using Swing Pricing
Policy Options to Enhance OEFLiquidityRiskManagement
Addressing Leverage Related Vulnerabilities in the OEF Sector
Supervisory Resourcing Must Keep Pace with Mandates and Complexity
5. The Role of Investment Funds in Cross-Border Spillovers
Benchmark Driven Investors: Increasingly Important for Emerging Market and Developing Economies
Benchmark Driven Investors Have Significant Financial Stability Implications for