Washington, DC (PRWEB) June 02, 2011
The Group of Thirty today released Regulatory Reforms and Remaining Challenges, an occasional paper reflecting seven separate but interconnected presentations delivered at the 64th plenary meeting of the Group of Thirty, held December 2-4, 2010 at the Federal Reserve Bank of New York. The contributing authors are:
- Mark Carney, Governor of the Bank of Canada, who addresses Counter Cyclical Capital Buffers and Basel III;
- Paul Tucker, Deputy Governor of the Bank of England, who addresses Basel III, Too Big To Fail, and Macroprudential Regimes;
- Philipp Hildebrand, Chairman of the Governing Board of the Swiss National Bank, who addresses Macroprudential Reform and the Swiss National Bank;
- Jacques de Larosière, President of Eurofi, who addresses Remaining European and Global Challenges;
- William Dudley, President of the Federal Reserve Bank of New York, who considers Remaining Regulatory Challenges;
- Adair Turner, Chairman of the Financial Services Authority, who discusses Measuring Reform's Successes Thus Far; and
- Roger W. Ferguson, Jr., President and CEO of TIAA-CREF, who turns to the Next Steps for Regulatory Reform.
"Once again the G30 members are engaging in the debate over financial reform, the challenges and opportunities we confront as the economy and financial sector grow once more," stated Jacob Frenkel, Chairman of the G30.
Dr. Frenkel continued: "The paper's authors highlight the strengths and challenges to macroprudential oversight and various facets of the Basel III Accord. Their remarks draw out the areas where work remains to be completed, where a great deal yet more must be done, and where regulators should remain vigilant."
PDFs and hard copies of this paper are online at http://www.group30.org/publications.shtml, or via email at info(at)group30(dot)org.
The Group of Thirty, formally known as “The Consultative Group on International Economic and Monetary Affairs, Inc.” was founded in 1978. The Group of Thirty is a private, nonprofit, international body composed of senior representatives of the private and public sectors and academia. The Group aims to deepen understanding of international economic and financial issues, to explore the international repercussions of decisions taken in the public and private sectors and to examine the choices available to market practitioners and to policymakers. The Group is led by Paul A. Volcker, Chairman of Trustees, and Jacob A. Frenkel, Chairman of the Group.