New chairman for Committee on Global Financial System
Roger Ferguson, vice-chairman of the Board of Governors of the Federal Reserve System, was named chairman of the Basel-based Committee on the Global Financial System (CGFS), the Bank for International Settlements said today.
The CGFS is a central bank forum tasked with policy recommendation in support of monetary and financial stability. It assists central bank governors in responding to threats to the stability of financial markets and the global financial system. It works in conjunction with other Basel-based committees, such as the Basel Committee on Banking Supervision.
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