Mark Carney will join ‘the bank for central banks’
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Mark Carney is to take a lead role in two global central bank groups for the Bank for International Settlements (BIS), the bank for central banks.
The former Bank of Canada governor who now holds the same role at the Bank of England will chair both the Global Economy Meeting (GEM) and the Economic Consultative Committee (ECC) from December 1, 2017.
The GEM group has two key roles:
Mr Carney will succeed Agustín Carstens, who will become General Manager of the BIS at the beginning of December. Carney will continue to hold his current role at the BoE.
"Agustín Carstens has done an outstanding job chairing these two important groups, and we thank him for his contribution," BIS Board Chairman Jens Weidmann said. "We look forward to working with Mark Carney, a long-time member of the BIS Board since 2008, in his new role."
The former Bank of Canada governor who now holds the same role at the Bank of England will chair both the Global Economy Meeting (GEM) and the Economic Consultative Committee (ECC) from December 1, 2017.
The GEM group has two key roles:
- monitoring and assessing developments, risks and opportunities in the world economy and the global financial system; and
- providing guidance to three Basel-based central bank committees - the Committee on the Global Financial System, the Committee on Payments and Market Infrastructures and the Markets Committee.
Mr Carney will succeed Agustín Carstens, who will become General Manager of the BIS at the beginning of December. Carney will continue to hold his current role at the BoE.
"Agustín Carstens has done an outstanding job chairing these two important groups, and we thank him for his contribution," BIS Board Chairman Jens Weidmann said. "We look forward to working with Mark Carney, a long-time member of the BIS Board since 2008, in his new role."
