FSB appoints new standing committee chairs 30 March 2023Switzerland Reporter: AST
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The Financial Stability Board has appointed new chairs for two of its standing committees, with the incumbents leaving their current roles at their parent organisations.
Nellie Liang, under secretary for domestic finance at the US Treasury, has taken over as chair of the Standing Committee on Assessment of Vulnerabilities, beginning the role on 17 March and replacing Lael Brainard, former vice chair of the US Federal Reserve Board (FRB), who resigned from the FRB in February.
Ryozo Himino, deputy governor of the Bank of Japan, has become chair of the Standing Committee on Standards Implementation, commencing his term on 24 March and replacing Fahad Almubarak, whose position as governor of the Saudi Central Bank ended on 2 February.
Liang became the FSB member for the US Treasury shortly after assuming her current position as under secretary for domestic finance in July 2021. She was actively engaged in FSB work when she was director of the Division of Financial Stability at the Federal Reserve Board.
Himino was appointed as deputy governor at the Bank of Japan on 20 March 2023. He served as chair of the FSB Standing Committee on Supervisory and Regulatory Cooperation from 2019 to 2021, when he was commissioner at the Japan Financial Services Agency.
The FSB has representatives from financial supervisors responsible for financial stability in 24 markets, along with international financial institutions, central bank expert committees and sector-based regulators, and is responsible for promoting policies and regulation that protects financial stability.
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