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Ref no: 2/2016

The Financial Stability Board (FSB) has appointed Alexandre Tombini, Governor of Banco Central do Brasil, as Chair of the FSB’s Standing Committee on Budget and Resources (SCBR), for a term starting on 1 February 2016 and ending on 30 April 2018.

The SCBR is responsible for the assessment of the resource needs of the FSB Secretariat and for the FSB’s medium-term budget and resource framework. Mr. Tombini replaces Jens Weidmann, President of the Deutsche Bundesbank, who has served as Chair of the Committee since October 2012.

Mark Carney, FSB Chair, welcomed Alexandre Tombini’s appointment as SCBR Chair, noting his long and distinguished career in public service. He also expressed the FSB’s appreciation for Jens Weidmann’s effective chairmanship of the SCBR and before that, of the work on FSB governance that led to its establishment as a legal entity in 2013.

Notes to editors

Mr. Tombini has been Governor of Banco Central do Brasil since January 2011 and a member of the FSB Plenary and Steering Committee since then. He was co-chair of the FSB Regional Consultative Group for the Americas from July 2013 till June 2015. He has been a member of the BIS Board of Directors since December 2013.

The FSB has been established to coordinate at the international level the work of national financial authorities and international standard setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies in the interest of financial stability. It brings together national authorities responsible for financial stability in 24 countries and jurisdictions, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts. The FSB also conducts outreach with 65 other jurisdictions through its six regional consultative groups.

The FSB is chaired by Mark Carney, Governor of the Bank of England. Its Secretariat is located in Basel, Switzerland, and hosted by the Bank for International Settlements.