举例而言，控制流动性，对于对冲基金而言很有意义，但是对于私募基金则意义不大；控制杠杆率则恰好相反，对于私募的管理很有效，而对于对冲基金则效果不彰。

Controls on liquidity make much more sense for hedge funds than they do for private equity, for instance; the reverse could be argued for leverage limits.

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因此，政策制定者应该加强杠杆率和流动性管理，建立维护金融稳定的政策框架体系。

So the policy maker should take measures to enhance the management of leverage and liquidity, and establish policy framework to keep the stability of financial system.

youdao

因此，政策制定者应该加强杠杆率和流动性管理，建立维护金融稳定的政策框架体系。

So the policy maker should take measures to enhance the management of leverage and liquidity, and establish policy framework to keep the stability of financial system.

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