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

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Financial Times 2w ago

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

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.