Group of Thirty

Joachim Nagel, President of the Deutsche Bundesbank, Joins the Group of Thirty

Retrieved on: 
Friday, December 15, 2023
Bank for International Settlements, Group of Thirty, Bank, RTÉ Executive Board, Supervisory board, Deutsche Börse, Deutsche Bundesbank, G30, Tourism, Trustee

WASHINGTON, Dec. 15, 2023 /PRNewswire-PRWeb/ -- WASHINGTON—December 15, 2023: The Group of Thirty (G30) announced today that Dr. Joachim Nagel has joined the Group's membership. Dr. Nagel was appointed President of the Deutsche Bundesbank on January 7, 2022, after previously serving in leadership roles throughout the bank during his career. Additional past positions include Deputy Head of the Banking Department at the Bank for International Settlements, Member of the Supervisory Board of Deutsche Boerse AG, and Member of the Executive Board of KfW Group.

Key Points: 
  • WASHINGTON, Dec. 15, 2023 /PRNewswire-PRWeb/ -- WASHINGTON—December 15, 2023: The Group of Thirty (G30) announced today that Dr. Joachim Nagel has joined the Group's membership.
  • Dr. Nagel was appointed President of the Deutsche Bundesbank on January 7, 2022, after previously serving in leadership roles throughout the bank during his career.
  • Tharman Shanmugaratnam, Chairman of the Board of Trustees, said: "We are delighted to have Joachim Nagel join the Group of Thirty.
  • Mark Carney, Chair of the Group of Thirty, said: "I welcome Joachim to the Group of Thirty and look forward to his contributions in the years ahead.

G30 report, Central Banking and Monetary Policy: Principles and the Way Forward, calls for a shift in approach

Retrieved on: 
Thursday, November 30, 2023
Center for Financial Studies, Way Forward, Policy, Bank of Israel, Bank, Reserve Bank of India, Risk, JPMorgan Chase, Former, Princeton University, Fear, Trustee, Deutsche Bundesbank, Memory, EST, Goethe University Frankfurt, Reserve Bank, G30, Working Group, Group of Thirty, Cryptocurrency, Management

WASHINGTON, Nov. 30, 2023 /PRNewswire-PRWeb/ -- The Group of Thirty (G30) today published Central Banking and Monetary Policy: Principles and the Way Forward. A product of the G30 Working Group on Monetary Policy - chaired by G30 members Jacob Frenkel, Raghuram Rajan, and Axel Weber, the report dissects the causes of the inflationary spike across many economies and the weaknesses in central banking models and approaches that contributed to a delayed response to the price hikes. The authors, including sixteen former or current central bankers and ministers of finance, warn inflation is less predictable today than in the past. They find that central bank frameworks, re-designed for a low inflation world and coupled with a data-driven approach to setting policy, slowed reactions to price rises as they developed. At the same time, existing policy commitments limited room to maneuver, resulting in some advanced economy central banks being behind the curve in their response to inflation. Emerging economies, many with the recent memory of higher inflation, reacted much more decisively.

Key Points: 
  • The Group of Thirty (G30) today published Central Banking and Monetary Policy: Principles and the Way Forward from the G30 Working Group on Monetary Policy.
  • WASHINGTON, Nov. 30, 2023 /PRNewswire-PRWeb/ -- The Group of Thirty (G30) today published Central Banking and Monetary Policy: Principles and the Way Forward.
  • The study calls for a return to a focus on central bank core goals, backed by maintaining central bank operational independence and a humble approach to central banking.
  • To receive a copy of Central Banking and Monetary Policy: Principles and the Way Forward, contact G30 Press Officer Melissa Golding at +1 571-236-2820 or [email protected] .

Andrew Bailey, Governor of the Bank of England, Joins the Group of Thirty

Retrieved on: 
Tuesday, September 26, 2023
Bank, Prudential regulation, Financial Conduct Authority, G30, Policy, Group of Thirty, Finance, Prudential Regulation Authority (United Kingdom), Bank of England, Prudential Regulation Authority, Financial Stability Board, PRA, Management, Trustee

WASHINGTON, Sept. 26, 2023 /PRNewswire/ -- The Group of Thirty (G30) announced today that Andrew Bailey has joined the Group's membership. He brings to the Group comprehensive experience gained through public service and a respected career at the Bank of England where he has served as Governor since March 2020. His additional senior roles have included Chief Executive Officer of the Financial Conduct Authority and Deputy Governor for Prudential Regulation and Chief Executive Officer of the Prudential Regulation Authority.

Key Points: 
  • WASHINGTON, Sept. 26, 2023 /PRNewswire/ -- The Group of Thirty (G30) announced today that Andrew Bailey has joined the Group's membership.
  • He brings to the Group comprehensive experience gained through public service and a respected career at the Bank of England where he has served as Governor since March 2020.
  • Tharman Shanmugaratnam, Chairman of the Board of Trustees, said: "We are pleased to welcome Andrew Bailey as a member of the Group of Thirty.
  • Andrew Bailey said: "I thank the Group of Thirty for this opportunity and am honored to join its distinguished membership.

G30 Report Examines the Economic Underperformance of Latin American Countries

Retrieved on: 
Wednesday, September 6, 2023
Democracy, Public policy, London, G30, Central bank, COVID-19, Senior advisor, Group of Thirty, Trust, Multimedia, XP Inc., Former, European Case Law Identifier, Country, Central Bank of Brazil, Working Group, BTG Pactual, GDP, Trustee, School, Growth, Region, Bank, London School of Economics, Bank of Mexico, Creative industries, Drug, Management, Economics

WASHINGTON, Sept. 6, 2023 /PRNewswire-PRWeb/ -- The Group of Thirty (G30) today published Why Does Latin America Underperform? A product of the G30 Working Group on Latin America, the report analyzes the complex and intertwined structural, financial, and political drivers that result in the countries of Latin America consistently delivering poorer economic outcomes when measured against other similar countries outside the region.

Key Points: 
  • New G30 Report Examines the Economic Underperformance of Latin American Countries, and Identifies Potential Solutions as the Region Exits the COVID-19 Pandemic
    WASHINGTON, Sept. 6, 2023 /PRNewswire-PRWeb/ -- The Group of Thirty (G30) today published Why Does Latin America Underperform?
  • A product of the G30 Working Group on Latin America, the report analyzes the complex and intertwined structural, financial, and political drivers that result in the countries of Latin America consistently delivering poorer economic outcomes when measured against other similar countries outside the region.
  • While many countries in Latin America share similar challenges, there are unique circumstances preventing a one-size-fits-all explanation to the question of underperformance.
  • The report identifies four distinct low-growth syndromes to characterize Latin American countries:
    Endemic macroeconomic instability as seen in Argentina, Ecuador, and Venezuela.

Mark Carney Appointed Chair of the Group of Thirty, Tharman Shanmugaratnam Appointed Chairman of the Board of Trustees, Jacob Frenkel Becomes Chairman Emeritus

Retrieved on: 
Thursday, December 1, 2022
G30, Bank of Israel, Brookfield Asset Management, Former, Group of Thirty, Private sector, Bank of Canada, Development, Bank, Research, JPMorgan Chase, Management, Renewable energy, Trustee

New York, Dec. 1, 2022 /PRNewswire-PRWeb/ -- The Group of Thirty (G30) today announced the succession of its leadership. Mark Carney, Chair of Brookfield Asset Management and former Governor of the Bank of England and Bank of Canada, will become Chair of the Group of Thirty. Tharman Shanmugaratnam, Senior Minister and former Deputy Prime Minister of Singapore, upon completing his five-year term as Chairman of the Group of Thirty, will be appointed Chairman of the Board of Trustees. Both terms will run for five years. Jacob A. Frenkel, Former Chairman of JPMorgan Chase International and former Governor of the Bank of Israel, after serving as Chairman of the Board of Trustees from 2012-2022 and previously as Chairman of the Group of Thirty from 2000-2011, will become Chairman Emeritus. All of these changes will take effect on January 1, 2023.

Key Points: 
  • Mark Carney, Chair of Brookfield Asset Management and former Governor of the Bank of England and Bank of Canada, will become Chair of the Group of Thirty.
  • Tharman Shanmugaratnam, Senior Minister and former Deputy Prime Minister of Singapore, upon completing his five-year term as Chairman of the Group of Thirty, will be appointed Chairman of the Board of Trustees.
  • It is with great pleasure that the Group of Thirty's Board of Trustees has appointed Mark Carney to succeed Tharman as Chair of the Group.
  • He added: "I would like to thank and salute Jacob Frenkel and Tharman Shanmugaratnam, who have led the Group with such distinction, insight, and aplomb."

"ASTANA CLUB" HELD IN PARIS DURING PRESIDENT OF KAZAKHSTAN VISIT TO FRANCE

Retrieved on: 
Thursday, December 1, 2022
Bank of Israel, Republic, FSB, Climate change, Partnership, Bank, Group of Thirty, Policy, Frankopan family, University of Oxford, Financial Stability Board, Institute of World Economics and Politics, Astana Club, Economics, Politics, Uncertainty, Finance, Drug, Cereal, EU

NUR-SULTAN, Kazakhstan, Dec. 1, 2022 /PRNewswire/ -- On November 29, President of the Republic of Kazakhstan Kassym-Jomart Tokayev paid a historic visit to France and held a meeting with his French counterpart Emmanuel Macron.

Key Points: 
  • NUR-SULTAN, Kazakhstan, Dec. 1, 2022 /PRNewswire/ -- On November 29, President of the Republic of Kazakhstan Kassym-Jomart Tokayev paid a historic visit to France and held a meeting with his French counterpart Emmanuel Macron.
  • On the same day, the meeting of the Astana Club, organized in support of the President's visit, was held in Paris.
  • The meeting was dedicated to the topic "Greater Eurasia: building dialogue in the age of uncertainty".
  • All participants of the conference specially noted the high importance and timeliness of the visit of the President of Kazakhstan to France at this political moment.

"ASTANA CLUB" HELD IN PARIS DURING PRESIDENT OF KAZAKHSTAN VISIT TO FRANCE

Retrieved on: 
Thursday, December 1, 2022
Bank of Israel, Republic, FSB, Climate change, Partnership, Bank, Group of Thirty, Policy, Frankopan family, University of Oxford, Financial Stability Board, Institute of World Economics and Politics, Astana Club, Economics, Politics, Uncertainty, Finance, Drug, Cereal, EU

NUR-SULTAN, Kazakhstan, Dec. 1, 2022 /PRNewswire/ -- On November 29, President of the Republic of Kazakhstan Kassym-Jomart Tokayev paid a historic visit to France and held a meeting with his French counterpart Emmanuel Macron.

Key Points: 
  • NUR-SULTAN, Kazakhstan, Dec. 1, 2022 /PRNewswire/ -- On November 29, President of the Republic of Kazakhstan Kassym-Jomart Tokayev paid a historic visit to France and held a meeting with his French counterpart Emmanuel Macron.
  • On the same day, the meeting of the Astana Club, organized in support of the President's visit, was held in Paris.
  • The meeting was dedicated to the topic "Greater Eurasia: building dialogue in the age of uncertainty".
  • All participants of the conference specially noted the high importance and timeliness of the visit of the President of Kazakhstan to France at this political moment.

G30 Releases Status Update on U.S. Treasury Market Reforms

Retrieved on: 
Thursday, June 30, 2022
Steps, Efficiency, Review, Fellow, Status Update, Warburg Pincus, Research, G30, Attention, Federal Reserve Board of Governors, Stanford Graduate School of Business, Economics, Working Group, Management, Bank, Growth, Division, Harvard University, Industry, Bank Policy Institute, Director, Treasury, Working Group on Financial Markets, Time, Former, Board, Safety, Group of Thirty, Group, Security (finance), Trustee

WASHINGTON, June 30, 2022 /PRNewswire-PRWeb/ -- The Group of Thirty (G30) today released an update to its July 2021 report, U.S. Treasury Markets: Steps Toward Increased Resilience. The new report, U.S. Treasury Markets: Steps Toward Increased Resilience – Status Update 2022, prepared by the leadership team of the G30 Working Group on Treasury Market Liquidity, assesses the degree to which actions taken by the U.S. authorities over the last year have been consistent with the ten recommendations the Working Group made in July 2021. A review of developments in the Treasury market, including research and analysis conducted since July 2021, and recent discussions with market participants and officials in the relevant U.S. agencies, suggests the foundational case for the recommendations remains strong. Taken as a whole, the recommendations, if fully implemented, would make a meaningful contribution to improving the functioning of the Treasury market, both in normal times and in periods of crisis.

Key Points: 
  • The Group of Thirty (G30) today published U.S. Treasury Markets: Steps Toward Increased Resilience Status Update 2022.
  • WASHINGTON, June 30, 2022 /PRNewswire-PRWeb/ -- The Group of Thirty (G30) today released an update to its July 2021 report, U.S. Treasury Markets: Steps Toward Increased Resilience.
  • The Status Update summarizes what has been accomplished, and what remains undone, with respect to the issues identified, and recommendations made, in the original report, which addressed five sets of key issues: central bank liquidity support for Treasury market functioning; central clearing of trades of Treasury securities and Treasury repos; prudential regulation of dealers; market transparency; and market regulation.
  • To receive a copy ofnull [ __title__ null]U.S. Treasury Markets: Steps Toward Increased Resilience Status Update 2022, contact G30 Press Officer Melissa Golding at +1 571-236-2820 or mailto: [email protected] [ [email protected] __title__ null].

Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization, Joins the Group of Thirty

Retrieved on: 
Monday, January 31, 2022
G30, Leadership, Director, World, Ngozi, Group, World Bank, World Trade Organization, Group of Thirty, Board, Management, Trustee

WASHINGTON, Jan. 31, 2022 /PRNewswire-PRWeb/ -- The Group of Thirty (G30) announced today that Dr. Ngozi Okonjo-Iweala has joined the Group's membership.

Key Points: 
  • WASHINGTON, Jan. 31, 2022 /PRNewswire-PRWeb/ -- The Group of Thirty (G30) announced today that Dr. Ngozi Okonjo-Iweala has joined the Group's membership.
  • She brings an exceptional and unique record of leadership, in Africa, at the World Bank and numerous international fora, and in her current role as Director-General of the World Trade Organization.
  • The Group of Thirty, founded in 1978, is an independent global body comprised of economic and financial leaders from the public and private sectors and academia.
  • Dr. Jacob A. Frenkel, Chairman of the Board of Trustees, said: "We are delighted to welcome Ngozi Okonjo-Iweala as a member of the Group of Thirty.

G30 Report Calls for Reform of U.S. Treasury Market

Retrieved on: 
Wednesday, July 28, 2021
American people of German descent, Group of Thirty, Timothy Geithner, Geithner, Federal government of the United States

A product of the G30 Working Group on Treasury Market Liquidity, the report analyzes the weaknesses in the U.S. Treasury market during the market stress of March 2020 and sets out recommendations designed to improve functioning of this globally crucial market in future stress episodes.

Key Points: 
  • A product of the G30 Working Group on Treasury Market Liquidity, the report analyzes the weaknesses in the U.S. Treasury market during the market stress of March 2020 and sets out recommendations designed to improve functioning of this globally crucial market in future stress episodes.
  • Timothy F. Geithner, Chair of the G30 Working Group on Treasury Market Liquidity, President of Warburg Pincus, and Former Secretary of the Treasury for the United States, noted: "The Treasury market is the most important financial market in the world and should have the highest standards for resilience, transparency, and oversight.
  • Mr. Geithner added: "We propose a series of ten reasonable and politically viable reforms to the Treasury market including guidance on liquidity facilities, central clearing, the regulation of market intermediaries, and market regulation and transparency.
  • Other recommendations that support the same goal include central clearing of all Treasury repos and enhanced Treasury market transparency."