Banks’ dealings with highly leveraged institutions (hedge  BIS Review 82/1999  4  funds) have also been under review, with an eye to reducing the risk of further surprises of the LTCM type.
The Financial Stability Forum has been established, under the chairmanship of Andrew Crockett, General Manager of the BIS, with the aim of strengthening cooperation among the international organisations, regulatory associations and expert groups with responsibilities in the field of financial regulation and oversight. The core work is taking place in three groups looking at, respectively, hedge funds, off-shore financial centres and short-term capital flows.