Macklem New GHOS Chair
Posted by Colin Lambert. Last updated: April 4, 2022
Bank of Canada governor Tiff Macklem has been appointed chair of oversight body for the Basel Committee on Banking Supervision for a three-year term. He replaces Banque de France governor François Villeroy de Galhau.
As chair of the Group of Governors and Heads of Supervision (GHOS), Macklem will face the implementation of the stage three of Basel.
“It has been a privilege to chair the GHOS since 2019,” says Villeroy de Galhau. “During this period, GHOS members have collaborated closely, including with regards to the regulatory response to the Covid-19 pandemic and the full, consistent and timely implementation of Basel III.”
Macklem adds, “I look forward to continuing its important work of providing strategic direction to the Basel Committee, as it works to promote full Basel III implementation, address new challenges facing banks and supervisors, and enhance global financial stability.”