Caruana to step down as Basel Committee chief

Jaime Caruana will step down as chairman of the Basel Committee on Banking Supervision in July, when his six-year tenure as head of the Spanish central bank expires.

A Bank for International Settlements spokeswoman said the Committee planned to discuss Caruana’s replacement at its next scheduled meeting in March.

Since Caruana was appointed chairman in May 2003, the Basel Committee has drawn up some of the most sweeping regulations in its history, including the finishing touches to the new Basel II capital Accord, which will govern the measurement of risk within banks and the amount of capital that must be laid aside against these risks.

Spain’s Prime Minister, José Luis Rodríguez Zapatero, is expected to name Caruana’s replacement at the Bank of Spain in the coming weeks. Among the front-runners are Zapatero’s economics adviser, Miguel Sebastián, the director general of the treasury, Solidad Nuñez, and a member of the Bank of Spain’s governing council, Julio Segura Sánchez.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here