Swiss central bank chair rejects regulation of hedge funds

“I do not see Highly Leveraged Institutions (HLI) as a direct threat to financial stability,” said Roth in a lecture on Highly Leveraged Institutions and Financial Stability: A Case for Regulation? at the University of St. Gallen in Switzerland on Friday. “The Achilles heel of the system is the link between HLIs and banks of systemic importance. Thus, the systemic risks originating from HLIs are better addressed through indirect measures aimed at the HLIs' counterparties and creditors, which are

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