IIF calls for superfund transparency

10/22/2007 | Financial Times (free content)

A $75 billion superfund set up by Citigroup, JPMorgan Chase and Bank of America to buy assets from troubled investment vehicles at higher-than-true-market prices will only succeed if its pricing of assets is transparent, a committee of international bankers said. Institute of International Finance stressed the need for proper valuations and for financial institutions to "take the hits."

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