In the follow up of G-7 Finance Ministers' discussion in Essen on the role of hedge funds, G-7 Deputies had an exchange of views with hedge fund managers, prime brokers and counterparties at the margins of the spring meeting of the Bretton Woods institutions in Washington DC.
After hearing a presentation by Under Secretary of the Treasury, Robert Steel, on the 'Principles and Guidelines Regarding Private Pools of Capital' of the President's Working Group on Financial Markets, a progress report was given by the chairman of the Financial Stability Forum, Mario Draghi, on the update of the institution's 2000 report on Highly Leveraged Institutions.
In addition, the chairman of the 'Counterparty Risk Management Policy Group II', E. Gerald Corrigan, briefed participants on the implementation of the group's 2005 report's findings. The discussion with private sector participants focused on best practices on risk management, current hedge fund and private equity regulations and disclosure issues, including a discussion of best practices.
G-8 finance ministers will meet in Potsdam on 18/19 May. The 2007 meeting of the G 8 finance ministers will take place at the Resort Schwielowsee near Potsdam on 18/19 May, chaired by Germany’s Federal Minister of Finance, Peer Steinbrück.
After the meeting in Essen, the G 8 finance ministers will now further pursue the discussion on the transparency of hedge funds.
Furthermore, the ministers will discuss the preconditions for successful budgetary consolidation, the development of bond markets in threshold countries.
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Agenda G-8 Potsdam meeting
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