The BIS's Financial Stability Institute Advisory Board

Press release  | 
15 November 2017

The Financial Stability Institute (FSI) of the Bank for International Settlements (BIS) assists financial sector authorities worldwide in strengthening their financial systems. Since the beginning of 2017, the FSI has been implementing a new strategy that includes achieving closer interaction with central banks and financial supervisory agencies, which are its main stakeholders. As part of these efforts, the BIS has decided to reactivate the FSI Advisory Board that was originally created in 1998 and ceased to operate some time later.

The Advisory Board will provide strategic advice to help the FSI continue to meet its mandate in a way that is responsive to the changing needs of its key stakeholders around the world. To achieve this objective, the Advisory Board will comprise a small but diverse group of central bank Governors, heads of financial sector supervision and chairs of standard-setting bodies and regional supervisory groups (see annex for the complete list of Advisory Board members).

Jaime Caruana, BIS General Manager, remarked "The reactivation of the FSI Advisory Board reinforces the BIS's commitment to supporting financial sector authorities worldwide as they intensify efforts to implement international financial regulatory standards."

Fernando Restoy, Chair of the FSI, welcomed the participation of senior officials in the Advisory Board and expressed gratitude for their support in keeping the FSI's work relevant and useful for financial sector authorities worldwide.


Note to editors

The FSI was jointly created in 1998 by the BIS and the Basel Committee on Banking Supervision. The FSI's main objectives are to: (i) promote sound supervisory standards and practices globally and support full implementation of these standards in all countries; (ii) keep supervisors updated with the latest information on market products, practices and techniques; (iii) provide a venue for policy discussion and sharing of supervisory practices and experiences; and (iv) promote cross-sectoral and cross-border supervisory contacts and cooperation.

These objectives are achieved through the production of FSI Insights on policy implementation and other publications, meetings and conferences with senior officials and FSI Connect, the BIS's web-based learning tool for financial sector supervisors. For more about the FSI, visit


List of FSI Advisory Board members

  1. Jaime Caruana, General Manager of the BIS and Chair of the FSI Advisory Board (until 30 November 2017; thereafter, Agustín Carstens, incoming General Manager of the BIS)
  2. Juan Pedro Cantera, Chairman of Association of Supervisors of Banks of the Americas (ASBA) and Superintendent of the Central Bank of Uruguay
  3. Norman Chan, Chair of the Standing Committee on Supervisory and Regulatory Cooperation of the Financial Stability Board and Chief Executive of the Hong Kong Monetary Authority
  4. William Dudley, President of the Federal Reserve Bank of New York
  5. Ilan Goldfajn, Governor of the Central Bank of Brazil
  6. Stefan Ingves, Chairman of Basel Committee on Banking Supervision and Governor of Sveriges Riksbank
  7. Lesetja Kganyago, Governor of the South African Reserve Bank
  8. Haruhiko Kuroda, Governor of the Bank of Japan
  9. Danièle Nouy, Chair of the Supervisory Board, European Central Bank
  10. Urjit Patel, Governor of the Reserve Bank of India
  11. Victoria Saporta, Chair of the International Association of Insurance Supervisors Executive Committee and Executive Director of Prudential Policy, Bank of England
  12. Grant Spencer, Chair of Executives' Meeting of East Asia-Pacific Central Banks (EMEAP) Governors' Meeting and Acting Governor of the Reserve Bank of New Zealand (until 31 December 2017; thereafter, Nestor Espenilla Jr, incoming Chair of the EMEAP Governors' Meeting and Governor of Bangko Sentral ng Pilipinas)
  13. Sam Woods, Chief Executive Officer of Prudential Regulation Authority, Bank of England