Spanish central banker set to inherit big challenges as next BIS head

Quick Summary:

European officials believe the US could ditch them entirely, triggering a global race to the bottom on financial supervision.

The BIS board is made up of the heads of many of the world’s biggest central banks including the Fed, the ECB and those of China, Brazil, India, Mexico, South Korea, Canada, Germany, Italy, the UK and the Netherlands.

Hernandez played a key role in shaping the final agreement on the rules as he chaired the Basel Committee on Banking Supervision from 2019 until he stepped down earlier this year.

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Article Details

Author / Journalist: Martin Arnold

Category: MarketsFinanceInvesting

Markets: United StatesBrazilCanadaChinaGermanyIndiaItalySouth KoreaMexicoNetherlandsSpain

Topics: Global Central World’s General Banks Rules Banking Manager Financial Supervision Bank

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 13:17:02 (12 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 589 words

Reading Time: 4 minutes read

Sentences: 20 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 23470636

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