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Free eBook: Financial Reform: A Framework for Financial Stability

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Financial Reform: A Framework for Financial Stability 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.

FORWARD
In July 2008, the Group of Thirty (G30) launched a project on financial reform under the leadership of a Steering Committee chaired by Paul A. Volcker, with Tommaso Padoa-Schioppa and Arminio Fraga Neto as its Vice Chairmen. They were supported by other G30 members who participated in an informal working group.

All members (apart from those with current and prospective national official responsibilities) have had the opportunity to review and discuss preliminary drafts.

The Report is the responsibility of the Steering Committee and reflects broad areas of agreement among the participating G30 members, who participated in their individual capacities. The Report does not reflect the official views of those in policymaking positions or in leadership roles in the private sector. Where there are substantial differences in emphasis and substance, they are noted in the text. …

INTRODUCTION
Market economies require robust and competitive financial systems, national and international, to intermediate between those with financial resources and those with productive and innovative uses for those resources. That intermediation necessarily poses risks—risk with respect to bridging maturity preferences of savers and borrowers and risk with respect to creditworthiness.

The process, to be effective, depends on mutual trust—trust based on confidence in the integrity of institutions and the continuity of markets. That confidence, taken for granted in well-functioning financial systems, has been lost in the present crisis, in substantial part due to its recent complexity and opacity. …

Visit Financial Reform: A Framework for Financial Stability Download Page

You can download full report in PDF format.

Group of Thirty
www.group30.org
1726 M Street, N.W., Suite200
Washington, DC 20036
ISBN I-56708-146-0

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Free eBook: Financial Reform: A Framework for Financial Stability

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1 Comment

  1. Hey Robert,

    It sounds like someone got their feathers ruffled a bit! I love to see, hear, and most of all read the emotions your presence seems to ignite. I am no Harvard grad, but I think people in general are intelligent enough to decide for themselves what works and what doesn’t. And if any one seeks advice from a guru or whatever, then they should take the advice just as that, advice. Try what works for them and then adjust, until one reaches the
    results desired.

    If we all did exactly the same thing as everybody else, well, I guess this life would be pretty boring, and as far as being productive or profitable, who would even care!

    Keep the Fire Burning Mr. K and I will see you at the Top:)

    Sincerely,
    Rocky Bradley
    Switzerland

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