The Board of Directors of the Bank for International Settlements (BIS) announced this Tuesday that the President of the Central Bank of the Argentine Republic (BCRA), Santiago Bausili, will assume the chairmanship of the Advisory Council for the Americas (CCA) of the institution for a two-year term that will begin on April 1, 2027.
At the same time, the BIS has decided to extend the term of the Governor of the Bank of Canada, Tiff Macklem, as the top executive of the CCA until March 31, 2027 at the latest.
The CCA was established in May 2008 as an advisory body of the BIS and is made up of the governors of the eight central banks in the Americas that are BIS members: Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru and the United States. Its secretariat is based in Mexico City, where it shares headquarters with the BIS representative office for the region.
In another set of decisions, the governors of the central banks that participate in the BIS Global Economic Forum (GEM) have designated the Governor of the Bank of Korea, Shin Hyun-song, as the new Chair of the Committee on Payments and Market Infrastructures (CPMI), for a three-year term that is renewable.
Shin officially took up his duties last Sunday, November 1, after succeeding in the position the Governor of the Bank of Italy and Chair of the BIS Board of Directors, Fabio Panetta.
The CPMI brings together central banks from all continents with the aim of supervising and studying the evolution of payment, clearing and settlement systems, in addition to developing standards and recommendations with international scope.