Janet Yellen re-establishes hedge fund working group on oversight council

Mar. 31, 2021 3:35 PM ETFinancial Select Sector SPDR ETF (XLF), FAS, VFH, FAZXLF, VFH, FAS, FAZBy: Liz Kiesche, SA News Editor3 Comments
  • As a part of setting her agenda for the Financial Stability Oversight Council, Treasury Secretary Janet Yellen re-establishes the hedge fund working group, which lapsed under Steven Mnuchin's tenure. (Updated at 5:47 PM ET to include link Yellen's statement.)
  • That comes after Archegos Capital's collapse rattled equity markets late last week, hit bank stocks, and showed the risk that lurked in the combination of leverage and derivatives.
  • Other areas that she wants to focus on are: the vulnerabilities relating to non-bank financial companies, open-end mutual funds, money market funds, the disruption of Treasury markets last spring, risks of climate change, and cyber-security risks.
  • Related ETFs: XLF, FAS, VFH, FAZ

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