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

    EBA Launches Stress Tests for Banks, Issues Other Updates

    The European Banking Authority (EBA) launched the 2023 European Union (EU)-wide stress test, published annual reports on minimum requirement for own funds and eligible liabilities (MREL) and high earners with data as of December 2021.

    January 31, 2023 WebPage Regulatory News
    News

    EBA Proposes Standards for IRRBB Reporting Under Basel Framework

    The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.

    January 31, 2023 WebPage Regulatory News
    News

    FED Issues Further Details on Pilot Climate Scenario Analysis Exercise

    The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.

    January 17, 2023 WebPage Regulatory News
    News

    US Agencies Issue Several Regulatory and Reporting Updates

    The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.

    January 04, 2023 WebPage Regulatory News
    News

    ECB Issues Multiple Reports and Regulatory Updates for Banks

    The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.

    January 01, 2023 WebPage Regulatory News
    News

    HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements

    The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.

    December 30, 2022 WebPage Regulatory News
    News

    EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR

    The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.

    December 29, 2022 WebPage Regulatory News
    News

    CBIRC Revises Measures on Corporate Governance Supervision

    The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.

    December 29, 2022 WebPage Regulatory News
    News

    HKMA Publications Address Sustainability Issues in Financial Sector

    The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.

    December 23, 2022 WebPage Regulatory News
    News

    EBA Updates Address Basel and NPL Requirements for Banks

    The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.

    December 22, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8700