BIS Announces Appointment of the New BCBS Chair
The Group of Governors and Heads of Supervision (GHOS), the oversight body of BCBS, has appointed Pablo Hernández de Cos, Governor of the Bank of Spain, as the new Chairman of the Basel Committee on Banking Supervision, effective immediately. Mr Hernández de Cos, succeeds Stefan Ingves, Governor of Sveriges Riksbank, who has chaired the Basel Committee since July 2011. As set out in the Committee's Charter, the Chair is appointed for a term of three years that can be renewed once.
Mario Draghi, GHOS Chairman and ECB President, said "the GHOS expresses its gratitude to Stefan Ingves for his strong leadership of the Basel Committee over the past eight years. Under his leadership, the Committee completed its wide-ranging post-crisis Basel III reforms, which have increased the resilience of the global banking system and enhanced its ability to support the real economy. The GHOS looks forward to working with Pablo, as the Committee increasingly focuses its work on evaluating its post-crisis reforms, addressing emerging vulnerabilities in the global banking system, and promoting strong supervision."
Related Link: Press Release
Keywords: International, Banking, BCBS Chair, Leadership Changes, Pablo Hernández de Cos, Bank of Spain, BCBS, BIS
Previous Article
BOG Issues Guidance for Banks on Capital Utilization During COVID-19Related Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.