Jaime Caruana

Former General Manager

Jaime Caruana was General Manager of the BIS from 1 April 2009 to 30 November 2017.

Previously, Mr Caruana was Financial Counsellor to the Managing Director and Director of the Monetary and Capital Markets Department of the International Monetary Fund.

From 2000 to 2006, Mr Caruana was the Governor of the Bank of Spain, and, in that capacity, served on the Governing Council of the ECB. He was also the Chairman of the Basel Committee on Banking Supervision from 2003 to 2006 and has been a member of the Financial Stability Forum (now the Financial Stability Board) since 2003.

Prior to joining the Bank of Spain, Mr Caruana worked in the private financial sector for nearly 10 years.

Mr Caruana studied telecommunications engineering at the Complutense University of Madrid and trained with the Spanish State Economists and Trade Experts (Técnicos Comerciales y Economistas del Estado).

Mr Caruana is a member of the Group of Thirty.

All BIS publications (10)

BIS Paper No 98 11 Jul 2018
Low for long or turning point?
The 16th BIS Annual Conference took place in Lucerne, Switzerland, on 23 June 2017. The event brought together a distinguished…
By
Jaime Caruana
,
Philip Lowe
and
Alan S Blinder
BIS Paper No 92 7 Aug 2017
Long-term issues for central banks
The 15th BIS Annual Conference took place in Lucerne, Switzerland, on 24 June 2016. The event brought together a distinguished…
By
Jaime Caruana
and
Kevin Warsh
BIS Paper No 84 31 May 2016
Towards a "new normal" in financial markets?
The 14th BIS Annual Conference took place in Lucerne, Switzerland, on 26 June 2015. The event brought together a distinguished…
By
Jaime Caruana
,
John Kay
and
Paul Tucker
BIS Paper No 80 29 Jan 2015
Debt
Abstract of BIS Papers No 80 "Debt", proceedings of the 13th BIS Annual Conference, 27 June 2014. The 13th BIS Annual…
By
Jaime Caruana
,
Benjamin M Friedman
,
Stephen King
and
Masaaki Shirakawa
BIS Paper No 74 23 Dec 2013
Navigating the Great Recession: what role for monetary policy?
Abstract of BIS Papers No. 74 "Navigating the Great Recession: what role for monetary policy?", proceedings of the 12th BIS…
By
Stephen G Cecchetti
,
Finn E Kydland
,
Jaime Caruana
,
Zeti Akhtar Aziz
,
Thomas Jordan
and
Glenn Stevens
Publication 7 Feb 2013
International financial markets and bank funding in the euro area: dynamics and participants
(originally published in Spanish in the journal "Economistas", in December 2012)This article investigates the development of…
By
Jaime Caruana
and
Adrian Van Rixtel
BIS Paper No 69 18 Dec 2012
The future of financial globalisation
Abstract of BIS Papers No. 69 "The future of financial globalisation", proceedings of the 11th BIS Annual Conference, 21-22…
By
Stephen G Cecchetti
,
Amartya Sen
,
Jaime Caruana
,
Ravi Menon
and
José Darío Uribe
BIS Paper No 59 9 Dec 2011
Fiscal policy and its implications for monetary and financial stability
Abstract of BIS Papers No. 59 "Fiscal policy and its implications for monetary and financial stability", proceedings of the…
By
Stephen G Cecchetti
,
Martin Feldstein
,
Jaime Caruana
,
José de Gregorio
,
Peter Diamond
and
Peter Praet
BIS Paper No 55 28 Jan 2011
The future of central banking under post-crisis mandates
Abstract of BIS Papers No. 55 "The future of central banking under post-crisis mandates", proceedings of the ninth BIS Annual…
By
Stephen G Cecchetti
,
Alexandre Lamfalussy
,
Jaime Caruana
,
Mark Carney
,
Andrew Crockett
,
Stefan Ingves
,
Lucas Papademos
and
Duvvuri Subbarao

All external publications (4)

External publication 1 Jan 2016
La politique macroprudentielle: un ouvrage en cours pour les banques centrales
in Revue d'économie financière
By
Ilhyock Shim
and
Jaime Caruana
External publication 1 Jan 2016
The euro area in an era of global imbalances
in Anuario del euro 2016 - building institutions for the euro are
By
Goetz von Peter
and
Jaime Caruana
External publication 1 Jan 2014
Post-crisis monetary policy balance of risks
in Monetary policy after the Great Recession
By
Boris Hofmann
,
Andrew J Filardo
and
Jaime Caruana
External publication 1 Apr 2012
Sovereign creditworthiness and financial stability: an international perspective
in Financial Stability Review
By
Jaime Caruana
and
Stefan Avdjiev

All speeches (92)

Speech 2 Apr 2012
Central banking in a balance sheet recession
Panel remarks by Mr Jaime Caruana, General Manager of the BIS, at the Board of Governors of the Federal Reserve System 2012…
By
Jaime Caruana
Speech 9 Feb 2012
Building a resilient financial system
Keynote speech by Jaime Caruana, General Manager of the BIS, at the 2012 ADB Financial Sector Forum on "Enhancing financial…
By
Jaime Caruana
Speech 24 Jan 2012
The need for effective international collaboration in times of financial stress
Speech by Mr Jaime Caruana, General Manager of the BIS, at the seminar on "Long-term growth: organizing the stability and…
By
Jaime Caruana
Speech 23 Dec 2011
In honour of Tommaso Padoa-Schioppa: panel remarks
Panel remarks by Mr Jaime Caruana, General Manager of the BIS, at the Bank of Italy conference in honour of Tommaso Padoa…
By
Jaime Caruana
Speech 22 Dec 2011
Financial stability and risk disclosure
Keynote address by Mr Jaime Caruana, General Manager of the BIS, to the FSB Roundtable on risk disclosure, Basel, 9 December…
By
Jaime Caruana
Speech 16 Dec 2011
Why central bank balance sheets matter
Keynote address by Mr Jaime Caruana, General Manager of the BIS, at the Bank of Thailand-BIS conference on "Central bank…
By
Jaime Caruana
Speech 9 Dec 2011
Foreign participation and bond market development in Asia and the Pacific
Closing remarks by Mr Jaime Caruana, General Manager of the BIS, at the Bank of Japan-BIS high-level seminar on "The…
By
Jaime Caruana
Speech 18 Nov 2011
Financial and real sector interactions: enter the sovereign "ex machina"
Speech by Mr Jaime Caruana, General Manager of the BIS, at the CAFRAL/BIS conference on "Financial sector regulation for growth…
By
Jaime Caruana
Speech 14 Nov 2011
Panel remarks on "Welfare effects of financial innovation"
Panel remarks by Mr Jaime Caruana, General Manager of the BIS, at the DNB conference in honour of Nout Wellink on "Welfare…
By
Jaime Caruana

All videos (18)

00:24:11
GM-speech-AGM2015.jpg
Taking a longer-term perspective
Video 28 Jun 2015
Taking a longer-term perspective
Focusing on the 85th BIS Annual Report's key messages, in his speech Jaime Caruana analyses the unusually low interest rate…
By
Jaime Caruana
01:28:01
ext-IMF-apr2015-rethinking-macro-policy-III-Caruana.jpg
The blind spot of the international monetary and financial system
Video 16 Apr 2015
The blind spot of the international monetary and financial system
In his remarks, Jaime Caruana focuses on the blind spot of the current international monetary and financial system: its…
By
Ricardo Caballero
,
Zeti Akhtar Aziz
,
Jaime Caruana
and
Tharman Shanmugaratnam
00:28:25
ext-Eco-video-SRF.jpg
Zentralbanken als diskrete Retter der Weltwirtschaft
Video 3 Sep 2014
Zentralbanken als diskrete Retter der Weltwirtschaft
Swiss TV documentary on the role of central banks as discreet rescuers of the world economy (German only)
By
Jaime Caruana
01:05:46
Yale_Caruana.jpg
The BIS and the future of the global financial system
Video 9 Jul 2014
The BIS and the future of the global financial system
In an interview with Jeffrey Garten (Yale School of Management), Jaime Caruana discusses the post-crisis global financial…
By
Jaime Caruana
00:24:13
Caruana_BOK_video-page.jpg
Global liquidity: where do we stand?
Video 4 Jun 2013
Global liquidity: where do we stand?
In his speech, Jaime Caruana characterises today's global financial conditions and reviews quantity and price indicators of…
By
Jaime Caruana
00:16:11
AR-2011-press-conference.jpg
Building a stable future
Video 26 Jun 2011
Building a stable future
Press conference for BIS 81st Annual Report.
By
Jaime Caruana
01:52:46
PJ-lecture-2012.jpg
What financial system for the 21st century?
Video 26 Jun 2011
What financial system for the 21st century?
In his lecture, Sir Andrew Crockett presents the principles that should underpin the financial system for the medium- and…
By
Jaime Caruana
and
Guillermo Ortiz
00:46:49
AR-2010-press-conference.jpg
Beyond the rescue: exiting intensive care and finishing the reforms
Video 28 Jun 2010
Beyond the rescue: exiting intensive care and finishing the reforms
Press conference for BIS 80th Annual Report.
By
Jaime Caruana
00:43:43
AR-2009-press-conference.jpg
Rescue, recovery, reform - 2009
Video 29 Jun 2009
Rescue, recovery, reform - 2009
Press conference for BIS 79th Annual Report.
By
Jaime Caruana
and
Stephen G Cecchetti

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