Featured Product

    BIS Appoints Head of Innovation Hub and Leaders of Central Bank Groups

    November 11, 2019

    The BIS Board of Directors appointed Benoît Cœuré (a member of ECB Executive Board) as Head of the new BIS Innovation Hub, which has been set up to foster international collaboration among central banks on innovative financial technology. Mr. Cœuré will start his new role on January 15, 2020 for a five-year term. Mr. Cœuré has since 2013 chaired CPMI. He also led the Group of Seven working group on global stablecoins and co-chairs a related FSB working group. Additionally, the central bank governors meeting at the BIS made a number of appointments to lead key central bank groups.

    The following key appointments were made at the meeting of the central bank governors:

    • Jerome Powell, the FED Chair has been appointed as Chair of the Global Economy Meeting (GEM) and the Economic Consultative Committee, after consultations with members of the GEM. The GEM and the ECC are among the principal meetings held at the BIS every two months. The appointment takes effect on February 01, 2020 for a three year-term. Mr. Powell succeeds Mark Carney, the BoE Governor, who has chaired the two groups since December 2017.
    • The BIS Board also appointed John Williams, President and Chief Executive Officer of the New York FED, as Chair of the BIS Consultative Council for the Americas (CCA), an advisory committee to the Board. His two-year term starts on January 09, 2020. 
    • Central bank Governors of the GEM appointed Sir Jon Cunliffe, Deputy Governor of BoE, as Chair of the CPMI. His three-year term starts on January 01, 2020. Sir Jon succeeds Benoît Cœuré, a member of the Executive Board of ECB, who has been CPMI Chair since September 2013. 
    • Separately, the Group of Governors and Heads of Supervision (GHOS), the BCBS governing body, has selected François Villeroy de Galhau, Governor of the Bank of France, as its new Chair after consultations among its members. His three-year term starts immediately. He succeeds Mario Draghi, the ECB President until October 31, 2019, who had chaired the GHOS since July 2013.
    • The BIS Board elected ECB President Christine Lagarde as a member, replacing Mr. Draghi. 

     

    Related Links

    Keywords: International, Europe, Americas, EU, US, UK, Leadership Changes, CPMI, BCBS, BIS

    Related Articles
    News

    BCBS Amends Guidelines on Sound Management of AML/CFT Risks

    BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).

    July 02, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Amendments to Swap Margin Rule

    US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.

    July 01, 2020 WebPage Regulatory News
    News

    PRA Letter Sets Expectations on Approach to Managing Climate Risks

    PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.

    July 01, 2020 WebPage Regulatory News
    News

    EBA Guidelines on Treatment of Structural Foreign Exchange Under CRR

    EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).

    July 01, 2020 WebPage Regulatory News
    News

    FSB Issues Statement on Impact of COVID-19 Crisis on Benchmark Reform

    FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.

    July 01, 2020 WebPage Regulatory News
    News

    IAIS Publishes List of Internationally Active Insurance Groups

    IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.

    July 01, 2020 WebPage Regulatory News
    News

    FED Temporarily Revises FR Y-9C With Respect to PPPLF and CARES Act

    FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).

    July 01, 2020 WebPage Regulatory News
    News

    EC Launches Consultation on Review of Solvency II Directive

    EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.

    July 01, 2020 WebPage Regulatory News
    News

    ECB Consults on Supervisory Approach to Consolidation in Banking

    ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.

    July 01, 2020 WebPage Regulatory News
    News

    IAIS on Package for 2020 Data Collection on ICS and Aggregation Method

    IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.

    June 30, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5425