BIS establishes Consultative Council for the Americas
5 May 2008
The Bank for International Settlements (BIS) has today established a Consultative Council for the Americas (CCA), comprising the Governors of the BIS member central banks in the Americas region1. The purpose of the CCA is to provide a vehicle for communication between the members of the BIS in the Americas and the Bank's Board and Management on matters of interest and concern to the central bank community in the region.
The CCA has been set up following consultations with the regional member central banks about its purposes, organisational arrangements and specific tasks. The first Chairman of the Council, from 1 June 2008, will be Martín Redrado, Governor of the Central Bank of the Republic of Argentina. The new body will meet at least once a year, with additional meetings at the initiative of Council members. Secretariat services will be provided by the BIS Representative Office for the Americas in Mexico City.
Jean-Pierre Roth, Chairman of the BIS Board of Directors, said: "I am delighted to announce this important initiative, which will further strengthen the already close relationships between the BIS and its member central banks in the Americas and which we hope will also reinforce ties with non-member central banks in the region."
Martín Redrado said: "I am honoured to be invited to serve as the first Chairman of the CCA. The BIS is playing a growing role in the Americas, and the creation of the new Council will give central banks in the region an increased voice in its activities."
Malcolm Knight, BIS General Manager noted: "The establishment of the CCA marks another important step in the globalisation of the BIS. We look forward to the advice of the Council in tailoring the Bank's activities to the needs of central banks in the Americas."
The BIS Representative Office for the Americas was opened in November 2002. It is based in Mexico City. Gregor Heinrich has been Chief Representative since 2002, assisted by four professionals and administrative support staff. Publications by Americas Office staff as well as a selection of BIS publications that have been translated into Spanish are available at http://www.bis.org/am_office/research.htm.
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1Central Bank of Argentina, Central Bank of Brazil, Bank of Canada, Central Bank of Chile, Bank of Mexico, Board of Governors of the Federal Reserve System (United States).