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Dr. Ernest Addison, Governor of the Bank of Ghana, has been appointed Co-Chair of the Regional Advisory Group for the Swiss-based Financial Stability Board.
Joy Business learns that it has been appointed on July 1, 2019. The Governor is expected to work with Reserve Bank of South Africa Governor Lesetja Kganyaga to jointly chair the Regional Advisory Group of the Standing Committee on Economic Cooperation and Development. oversight and regulation of the Financial Stability Board. .
The team of co-chairs, mostly Central Bank Governors in selected countries around the world, has been invited to sit on the Board. Dr. Addison would be responsible for the sub-Saharan region, with Lesetja Kganyaga.
What is the Financial Stability Board?
The board of directors was made up of G20 central bank governors as well as some of the countries invited to join the group. The purpose of the Swiss-based Financial Stability Board is to promote international financial regulation reform and improve supervision of banking operations around the world.
The FSB is a Swiss non-profit badociation hosted by the BIS under a five-year renewable service contract.
The CSF's organizational structure consists of the plenary, the steering committee, the standing committees, the working groups, the regional advisory groups, the chair and the secretariat.
The Council discharges its responsibility, beyond its members, by the publication of reports and, in particular, by periodic reports on the progress of its work to Heads of State and Heads of State. government, finance ministers and central bank governors of the G20. The FSB is a Swiss non-profit badociation hosted by the BIS under a five-year renewable service contract. The CSF's organizational structure consists of the plenary, the steering committee, the standing committees, the working groups, the regional advisory groups, the chair and the secretariat.
RAG Regional Advisory Group for Sub-Saharan Africa …
The FSB created in 2011 six RCMs, one for the Americas, Asia, Commonwealth of Independent States, Europe, Middle East and North Africa and Sub-Saharan Africa regions, to develop and formalize CSF outreach activities beyond the membership. advice. G20 and reflect the overall nature of the financial system. The FSB Regional Advisory Groups are governed by an operational framework and provide a structured mechanism for:
– interaction of CSF members with non-members regarding the various ongoing and planned CSF initiatives;
– promote the implementation of international financial policy initiatives in the region; and
– the members of the regional group to share with each other and with the CSF their views on the vulnerabilities affecting the financial system, the CSF initiatives and other measures that can be taken to promote financial stability.
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