SWFs present systemic risk, require rules

A code of conduct for sovereign wealth funds is essential given their systemic importance, senior officials from the US Treasury and the International Monetary Fund said on Thursday 13 March at Central Banking Publications' Sovereign Wealth Management event.

Both Herve Ferhani, a deputy director at the International Monetary Fund's Monetary and Capital Markets Department, and Robert Kaproth, the director responsible for international monetary policy at the US Treasury, put the amount of asset

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