Board of Directors
The Board is responsible for determining the strategic and policy direction of the BIS, supervising BIS Management, and fulfilling the specific tasks given to it by the Bank's Statutes. It meets at least six times a year.
Four advisory committees, established pursuant to Article 43 of the Bank's Statutes, assist the Board in its work. Their meetings may be held by means of teleconference, videoconference or written procedure:
- The Administrative Committee reviews key areas of the Bank's administration, such as budget and expenditures, HR policies and IT. The Committee meets at least four times a year; its Chairman is Jens Weidmann.
- The Audit Committee meets with internal and external auditors, as well as with the Compliance unit. Among other things, it examines matters related to the Bank's internal control systems and financial reporting. The Committee meets at least four times a year and is chaired by Luc Coene.
- The Banking and Risk Management Committee reviews and assesses the Bank's financial objectives, the business model for BIS banking operations, and the risk management frameworks of the BIS. The Committee meets at least once a year; its Chairman is Stefan Ingves.
- The Nomination Committee deals with the appointment of members of the BIS Executive Committee and meets on an ad hoc basis when necessary. It is chaired by the Board's Chairman, Christian Noyer.
The Board of Directors may have up to 21 members, including six ex officio directors, comprising the central bank Governors of Belgium, France, Germany, Italy, the United Kingdom and the United States. Each ex officio member may appoint another member of the same nationality. Nine Governors of other member central banks may be elected to the Board.
In addition, one member of the Economic Consultative Committee may serve as Observer to BIS Board meetings, on a rotational basis. The Observer participates in the Board's discussions and may be a member of one or more of the four committees which assist the Board in its work.
The Board of Directors elects a Chairman from among its members for a three-year term and may elect a Vice-Chairman.
The BIS Board of Directors 1
Chairman: Christian Noyer, Paris
Mark Carney, London
Agustín Carstens, Mexico City
Luc Coene, Brussels
Jon Cunliffe, London
Andreas Dombret, Frankfurt am Main
Mario Draghi, Frankfurt am Main
William C Dudley, New York
Stefan Ingves, Stockholm
Thomas Jordan, Zurich
Klaas Knot, Amsterdam
Haruhiko Kuroda, Tokyo
Ann Le Lorier, Paris
Stephen S Poloz, Ottawa
Raghuram Rajan, Mumbai
Jan Smets, Brussels
Alexandre A Tombini, Brasília
Ignazio Visco, Rome
Jens Weidmann, Frankfurt am Main
Janet L Yellen, Washington
Zhou Xiaochuan, Beijing
1 This list includes the Observer mentioned above.