Newsletter November 2013: G30 calls for supervisory relations reset

LONDON – The Group of 30, a consultative group on international economic and monetary affairs composed of policy-makers, private sector participants and academics, recommended a “new paradigm” in relations between bank supervisors and the boards of directors of major banking groups. The report was produced by a working group chaired by Roger Ferguson, a former US Federal Reserve vice-chairman who is now the chief executive of TIAA-CREF, an asset manager and pension fund provider for US education and medical professionals with $542bn assets under management.