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NEW YORK - US Treasury officials have met executives from two of the world's largest sovereign wealth funds to discuss embracing a set of promises not to use their wealth for political advantage, the Wall Street Journal reported on Tuesday.
The US delegation met executives from the Abu Dhabi Investment Authority and from the Government Investment Corp of Singapore (GIC) last week, the newspaper reported, quoting officials involved in the sessions.
The talks are part of global negotiations to draft rules to oversee the behaviour of such funds without discouraging them from investing in the United States at a time of global financial turmoil.
A spokeswoman for GIC declined to comment on the report, while a spokesman for ADIA could not immediately comment. Sovereign-wealth funds are huge pools of government-controlled investment cash and have recently invested in banks including Citigroup Inc , Merrill Lynch & Co and UBS AG. -- REUTERS
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