Bank of Ghana’s Governor, Dr Ernest Addison appointed a co-chair of Swiss-based Financial Stability Board

According to Accra-based Joy FM, he was appointed on July 1, 2019. As a co-chair, he is expected to work with Governor of the Reserve Bank of South Africa, Lesetja Kganyaga to jointly Chair the Regional Consultative Group of the Financial Stability Board Standing Committee on Supervisory and Regulatory Cooperation.

The team of the Co-Chairs are predominately Central Bank governors in some selected countries around the world who have been invited to the board. Dr Addison would be responsible for the Sub-Saharan Region, together with Lesetja Kganyaga.

What is the Financial Stability Board?

The board is made up Central Bank Governors drawn from the G20 country as well some countries that have been invited to join the grouping. The FSB aims at promoting the reform of international financial regulations and improving supervision of banking operations around the world.

The FSB is established as a not-for-profit association under Swiss law and is hosted by the BIS under a five-year renewable service agreement.

The organization structure of the FSB consists of the Plenary, Steering Committee, Standing Committees, Working Groups, Regional Consultative Groups, Chair, and the Secretariat.

The Board discharges its accountability, beyond its members, through the publication of reports and, in particular, through periodical reporting of progress in its work to the Heads of State and Governments and the Finance Ministers and Central Bank Governors of the G20. The FSB is established as a not-for-profit association under Swiss law and is hosted by the BIS under a five-year renewable service agreement. The organization structure of the FSB consists of the Plenary, Steering Committee, Standing Committees, Working Groups, Regional Consultative Groups, Chair, and the Secretariat.