As of January 9, the president of the Central Bank (BC), Roberto Campos Neto, will chair the Advisory Board of the Americas, of the Bank for International Settlements (BIS). With two years in office, he will replace John Williams, chairman of the Federal Reserve (Fed, US Central Bank) of the New York region.
Known as the Central Bank of Central Banks, the BIS is headquartered in Basel, Switzerland, and works to promote coordinated actions among monetary authorities across the planet, especially in times of global financial crisis. The financial institution also serves as the first counterparty for Central Bank transactions.
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Elected by the BIS Board of Directors, Campos Neto is the second Brazilian to hold the position. The first was former BC president Henrique Meirelles. Created in 2008, the Consultative Council of the Americas (CCA) is formed by the presidents of Central Banks of the following countries: Argentina, Brazil, Canada, Chile, Colombia, United States, Mexico and Peru.
In addition to promoting discussions and facilitating collaboration between central banks, the BIS has the following attributions: to support dialogue with other authorities responsible for promoting financial stability and to conduct research on policies of interest to monetary authorities across the planet.
