(Finance) – The board of directors of the Bank for International Settlements (BIS) has re-elected Francois Villeroy de Galhaugovernor of the Bank of France, as his president and announced that Tiff Macklem, governor of the Bank of Canada, will become chair of the BIS Advisory Council for the Americas (CCA).
Villeroy de Galhau will start his second three-year mandate on January 12, 2025. Macklem’s appointment is for a two-year term starting January 1, 2025.
The CCA was established in May 2008 as advisory committee of the BIS Board of Directors. It is made up of the governors of the BIS member central banks in the Americas: Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru and the United States. Macklem succeeds Roberto Campos Neto, governor of the Central Bank of Brazil, as president of the CCA.
The BIS (in English Bank for International SettlementsBIS) is a Basel-based organization that promotes cooperation in monetary and financial matters and serves as a bank and forum for central banks.