Featured Product

    Stefan Ingves to Replace Mark Carney as First Vice-Chair of ESRB

    December 19, 2019

    Members of the General Council of ECB elected Stefan Ingves, the Governor of Sveriges Riksbank, as the First Vice-Chair of ESRB for a term of five years, in line with the EU Regulation No 1092/2010. Mr. Ingves will replace Mark Carney after the end of the Mr. Carney's term of office as the BoE Governor. However, if Mr. Carney loses his status as member of the General Council of ECB at an earlier point in time, for example due to the withdrawal of UK from EU, Mr. Ingves’ term of office will commence on that earlier date.

    Mr. Ingves was appointed Chair of the Toronto Center for Global Leadership in Financial Supervision in 2018. He is also a member of the Board of Directors of BIS and the Chair of that institution’s Banking and Risk Management Committee. Mr. Ingves has been a member of the General Board of ESRB since 2011 and was the Chair of the ESRB Advisory Technical Committee from its inaugural meeting in 2011 until 2017. He is also a member of the General Council of ECB, IMF Governor for Sweden, and a board member of the Nordic-Baltic Macroprudential Forum. Mr. Ingves was previously Chair of the BCBS, Head of the Monetary and Financial Systems Department at IMF, Deputy Governor of the Riksbank, and Director General of the Swedish Bank Support Authority. Prior to that he was Head of the Financial Markets Department at the Swedish Ministry of Finance. 

    ESRB, which is an independent EU body responsible for the macro-prudential oversight of the financial system in EU, is chaired by the ECB President Christine Lagarde. It contributes to the prevention or mitigation of systemic risks to financial stability in EU. ESRB also contributes to the smooth functioning of the internal market, thus ensuring a sustainable contribution of the financial sector to economic growth. 

     

    Related Link: Press Release

    Keywords: Europe, EU, Banking, Insurance, Securities, ESRB Vice-Chair, Stefan Ingves, Mark Carney, ECB, ESRB

    Related Articles
    News

    APRA Announces Deferral of Capital Reform Implementation

    APRA announced that it is deferring the scheduled implementation of Basel III reforms in Australia by one year.

    March 30, 2020 WebPage Regulatory News
    News

    IFRS Publishes Statement on Its Work During the COVID-19 Crisis

    IFRS, in its statement, emphasized that it shares global concerns about the impact of COVID–19 and is supporting its stakeholders by reconsidering timelines of its meetings and publications, providing information on the application of IFRS 9 on financial instruments, and offering calendar updates on ongoing activities.

    March 27, 2020 WebPage Regulatory News
    News

    US Agencies Announce Changes to SA-CCR and CECL Rules Due to COVID-19

    In light of the recent disruptions in economic conditions due to the COVID-19 outbreak, US Agencies (FDIC, FED, and OCC) announced two actions to allow banking organizations to continue lending to households and businesses.

    March 27, 2020 WebPage Regulatory News
    News

    IAIS Adjusts Work Program to Address Impact of COVID-19 on Insurers

    Considering the impact of COVID-19 outbreak, IAIS announced initial adjustments to its work program to provide operational relief to its member supervisors, insurers, and other stakeholders.

    March 27, 2020 WebPage Regulatory News
    News

    OSFI Announces Regulatory Adjustments to Support COVID-19 Efforts

    OSFI published three targeted industry letters that announce a series of regulatory adjustments to support the financial and operational resilience of federally regulated banks, insurers, and private pension plans in the light of COVID-19.

    March 27, 2020 WebPage Regulatory News
    News

    UK Regulators Announce Measures to Address Impact of COVID-19

    UK Regulatory Authorities published statements and guidance addressed to financial entities on dealing with the impact of the coronavirus (COVID-19) outbreak.

    March 26, 2020 WebPage Regulatory News
    News

    ISDA and Industry Request Delay in Timeline for Initial Margin Rules

    Considering the challenges posed by the COVID-19 pandemic, ISDA submitted a letter on behalf of 21 industry associations and their members requesting BCBS, IOSCO, and global regulators to suspend the current timeline for the initial margin phase-in.

    March 26, 2020 WebPage Regulatory News
    News

    FCA, FRC, and PRA Issue Joint Statement to Address Impact of COVID-19

    In response to the COVID-19 outbreak, FCA, the Financial Reporting Council (FRC), and PRA have announced a series of actions and made statements to support the continued functioning of capital markets in the UK.

    March 26, 2020 WebPage Regulatory News
    News

    EC Rule Corrects Regulation Supplementing Solvency II Directive

    EC published the EU Delegated Regulation 2020/442, which corrects the EU Delegated Regulation 2015/35 that supplements Solvency II Directive (2009/138/EC).

    March 26, 2020 WebPage Regulatory News
    News

    FED and FFIEC Offer Reporting Relief to Institutions Due to COVID-19

    FED and FFIEC announced regulatory reporting relief to financial institutions due to disruptions caused by the COVID-19.

    March 26, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4900