Fact sheet: Committee on the Global Financial System
The Committee on the Global Financial System is a central bank forum for the monitoring and examination of broad issues relating to financial markets and systems. It helps to elaborate appropriate policy recommendations to support the central banks in the fulfilment of their responsibilities for monetary and financial stability. In carrying out this task, the Committee places particular emphasis on assisting central bank Governors in recognising, analysing and responding to threats to the stability of financial markets and the global financial system.
Membership
Members are deputy governors, other senior officials of central banks, and the Economic Adviser of the BIS. Member institutions are:
| Central Bank of Argentina | Central Bank of Luxembourg |
| Reserve Bank of Australia | Bank of Mexico |
| National Bank of Belgium | Netherlands Bank |
| Central Bank of Brazil | The Central Bank of the Russian Federation |
| Bank of Canada | Saudi Central Bank |
| People's Bank of China | Monetary Authority of Singapore |
| European Central Bank | South African Reserve Bank |
| Bank of France | Bank of Spain |
| Deutsche Bundesbank | Sveriges Riksbank |
| Hong Kong Monetary Authority | Swiss National Bank |
| Reserve Bank of India | Bank of Thailand |
| Bank of Italy | Bank of England |
| Bank of Japan | Board of Governors of the Federal Reserve System |
| Bank of Korea | Federal Reserve Bank of New York |
Chair
Philip Lowe, Governor of the Reserve Bank of Australia
Secretariat
Philip Wooldridge, Bank for International Settlements, supported by a staff of five.
Frequency of meetings
Regular Committee meetings are held on the occasion of four of the bimonthly meetings of Governors of BIS member central banks.
Reporting arrangements
As of January 2010, the Chairman of the CGFS reports to the Global Economy Meeting, which comprises a group of 31 central bank Governors as members, on the CGFS's monitoring discussions and on other Committee initiatives.
Publications
List of all CGFS Papers
Further information
* The access of the Central Bank of the Russian Federation to all BIS services, meetings and other BIS activities has been suspended.