Washington – A report on hedge funds and risk control commissioned by the Group of Seven will be completed by year-end, but a preliminary version will be ready for G7 talks in May, the Italian central banker in charge of it said on Sunday.
Mario Draghi, Bank of Italy boss and head of the Financial Stability Forum, a Zurich-headquartered body set up at the G7’s request after the Asian financial crises of the 1990s, revealed the timing at a conference in Washington.
Bank of France Governor Christian Noyer hosted a conference in Washington where Draghi and other regulators explained why they felt some form of closer supervision of hedge funds may be needed — an issue members of the industry and senior finance officials were due to broach here on Sunday.
