Welcome to the Group of ThirtyThe Group of Thirty, established in 1978, is a private, nonprofit, international body composed of very senior representatives of the private and public sectors and academia.
For continous updates on the activities of the group's members, please subscribe to the G30 in the News RSS News Feed. You may also subscribe to all of the G30 reports and papers published throughout the year.
It 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 policymakers.
The members meet in plenary sessions twice a year with select guests to discuss important economic, financial and policy developments.
They reach out to a wider audience in seminars and symposia, and also enter the policy debate on important issues by publishing papers.
When the Group considers that its objectives would be furthered by more detailed work, it establishes study groups or committees, which may include both members and non-members.
Our publications' list begins with our first Occasional Paper in 1980 and continues to the present.
The Group is supported by contributions from private sources: foundations, banks, non-bank corporations, central banks, and individuals. A list of contributors in cash and kind for the fiscal years appear in the Group's annual report.
Newsletter
Spring 2009
The Group of Thirty regularly publishes a newsletter, which
includes updates on the progress of the group's studies, information regarding the group's meetings and seminars, and announces new occasional
papers.
Work Program
On January 15, 2009, The Group of Thirty released its latest report: Financial Reform: A Framework for Financial Stability. The report addresses flaws in the global financial system and provides 18 specific recommendations to: improve supervisory systems by redefining the scope, boundaries, and structure of prudential regulation; enhance the role of the central banks; improve governance practices and risk management; address pro-cyclicality via capital and liquidity standards; enhance accounting practices; strengthen the financial infrastructure; and increase coordination internationally. The project was led by Paul Volcker, Chairman, and Tommaso Padoa-Schioppa and Arminio Fraga Neto, Vice Chairmen.
To purchase a copy of the report, click here.
To read press coverage of the report, click here.
To download a PDF copy of the report, click here.
Paul Volcker discusses the report on CNBC.
Group Reports
The G30's report, The Structure of Financial Supervision: Approaches and Challenges in a Global Marketplace, reviews 17 regulatory systems, assessing advantages and challenges of the different supervisory structures seen in various markets. The project was led by Paul A. Volcker, Chairman, and Roger W. Ferguson, Vice Chairman (October 2008).
The report evaluates the progress made in global clearing and settlement infrastructure since the Group of Thirty's Global Monitoring Committee published its report, Global Clearing and Settlement: A Plan of Action, in January 2003. The latest report highlights the areas where improvements have been made as well as areas where little or no progress is apparent. 2006.
This report addresses the role of reinsurance in the international capital markets and highlights a number of major issues which arise as newer players enter the international markets on a substantial scale. 2006.
A comprehensive study of derivatives and derivatives markets drawn from the experience of market participants, with recommendations designed to help dealers and end-users better manage the risks of derivatives activities. Reprinted 2006.
Lessons Learned from Previous Banking Crises |
Respected authorities from Sweden, Japan, Spain, and Mexico describe past banking crises in their countries and how they were able to address the problems. This paper serves as a useful reference point when considering current policy proposals to countering the global financial crisis. 2009.
Distorting the Micro to Embellish the Macro: The Case of Argentina |
In this extremely timely paper, Cavallo and Cottani discuss the fallibility of Argentina’s “New Economic Paradigm” and the reasons for its longevity. The authors address the use of real exchange rate targeting (RERT), a mix of policies to manage the real exchange rate (RER) at a low level that aims to promote exports and reduce the vulnerability of the economy to future crises, and the extent to which this has been effective. 2008.
The Credit Crisis: The Quest for Stability and Reform |
Veteran financial participant Gerald Corrigan outlines the causes of the current financial crises and suggests solutions for moving forward. Key causes of the crisis include too much liquidity in the financial system as well as poorly priced risk. As the global economy de-leverages and risk adjustments take place, the economy will begin to recover, but at a much slower pace than policymakers wish. Corrigan suggests that across the world, governments consider injecting capital into key financial institutions, as well as discuss the possibility of further fiscal stimuli. 2008.
Lessons Learned from the Financial Crisis |
Eugene A. Ludwig outlines 17 lessons that policymakers can take from the current global economic crisis. In addition, he provides suggested improvements for the global regulatory structure, including adopting universal standards, increased transparency, and regulatory consolidation. Ludwig concludes by noting that sound supervision is critical to the financial structure, and it can alleviate many problems in which central banks will have to contend. 2008.
By Peter Kenen |
Founding Member of the Group of Thirty, Peter Kenen, provides a memoir of his experiences with the Group. He describes a valuable short history of the events leading up to the formation of the Group, as well as the decades that transpired since. Professor Kenen highlights the major reports, as well as the institutional changes that occurred over the years. Kenen's work provides a unique perspective of an organization that has meant so much to him. 2008.