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To: John Hunt who wrote (16693)	10/6/1998 6:27:00 AM
From: John Hunt	Read Replies (1) \| Respond to of 18056

22 Nations Plan Rules On Flow Of Capital - Effort Seeks to Curb Risk of Global Crises washingtonpost.com << The United States joined 21 other countries yesterday to propose new approaches for regulating vast international capital flows, in an attempt to reduce the risk of future economic crises. Financial markets around the world are reeling from the effects of sudden movements of capital -- starting with the pullback from Asia a year ago and continuing today as investors pull money out of stock and bond markets and stampede into U.S. Treasury securities. The plan outlined yesterday by officials attending the annual meeting of the International Monetary Fund and the World Bank would be the first attempt on a global basis to tame the movement of capital across borders and to increase the "transparency" of such investments. "It's a very powerful document -- the start of a rewriting of the rules for international capital flows," said Richard Medley, managing partner at Medley Global Advisors, a firm that counsels large international investment firms. "Government regulation and supervision is going to be a much bigger part of the equation for banks, hedge funds and other international investors." >>