Banque de France Financial Stability Report on Hedge Funds

26 April 2007

The Banque de France issued a Financial Stability Report dedicated to hedge funds, whose growing contribution to financial transactions has been drawing much attention. The compilation articles includes the views from Central Bank Governors Cristian Noyer, Axel Weber, Mario Draghi, and many other key players in the banking and financial system in order to further the debate on this issue.

Full publication

Articles:
Hedge funds, credit risk transfer and financial stability
ROGER T. COLE, GREG FELDBERG, DAVID LYNCH, Board of Governors of the Federal Reserve System
The evolution and regulation of hedge funds
ANDREW CROCKETT, JPMorgan Chase International
Regulating hedge funds
JÓN DANÍELSSON AND JEAN-PIERRE ZIGRAND, London School of Economics and Financial Markets Group
Hedge funds and financial stability
MARIO DRAGHI, Financial Stability Forum and Banca d’Italia
Hedge funds and systemic risk
ROGER FERGUSON AND DAVID LASTER, Swiss Re
Hedge fund replication strategies: implications for investors and regulators
WILLIAM FUNG, London Business School, and
DAVID A. HSIEH, Duke University
Hedge funds and prime broker dealers: steps towards a “best practice proposal”
PHILIPP M. HILDEBRAND, Swiss National Bank
Transparency requirements and hedge funds
CALLUM MCCARTHY, UK Financial Services Authority
Risks and return of banking activities related to hedge funds
JEAN-PIERRE MUSTIER, Société Générale Corporate & Investment Banking, and
ALAIN DUBOIS, Lyxor Asset Management
Indirect supervision of hedge funds DANIÈLE NOUY
Commission bancaire (French Banking Commission)
Hedge funds: what are the main issues?
CHRISTIAN NOYER, Banque de France
Monitoring hedge funds: a financial stability perspective
LUCAS D. PAPADEMOS, European Central Bank
The world of hedge funds: prejudice and reality – The AMF’s contribution to the debate on alternative investment strategies
MICHEL PRADA, Autorité des Marchés Financiers (French Securities Regulator)
Financial conditions, alternative asset management and political risks: trying to make sense of our times
RAGHURAM G. RAJAN, University of Chicago
Hedge funds in emerging markets
WILLIAM A. RYBACK, Hong Kong Monetary Authority
Fund of hedge funds: origins, role and future
PATRICK STEVENSON, Atlas Capital Limited
Hedge funds: a central bank perspective
AXEL A. WEBER, Deutsche Bundesbank

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