Ryozo Himino appointed Chair of the FSB’s Standing Committee on Supervisory and Regulatory Cooperation

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Ref no: 30/2019

The Financial Stability Board (FSB) has appointed Ryozo Himino, Vice Minister for International Affairs at the Japanese Financial Services Agency, as Chair of the FSB’s Standing Committee on Supervisory and Regulatory Cooperation (SRC), for a two-year term starting on 1 September 2019.

Mr. Himino succeeds Norman Chan, Chief Executive of the Hong Kong Monetary Authority, who has served as SRC Chair since April 2017.

The SRC’s mandate includes addressing key financial stability issues relating to the development of supervisory and regulatory policies; assisting in managing the coordination issues that arise among supervisors and regulators on issues that have cross-sector implications; setting guidelines for and overseeing the establishment and effective functioning of supervisory colleges; and advising on and monitoring best practice in meeting regulatory standards.

Randal K. Quarles, FSB Chair, welcomed Mr Himino’s appointment, noting his long and distinguished career in public service and his deep experience in international supervisory and regulatory policy matters. He also expressed the FSB’s appreciation for Norman Chan’s effective chairmanship of the SRC and his commitment to the FSB since he became a member in October 2009.

Notes to editors

Ryozo Himino has been the Vice Minister for International Affairs of the Japanese Financial Services Agency since 2016. At the Agency, he has supervised banks, insurance companies, broker dealers and audit firms and regulated capital markets during the last two decades. He also served as the Secretary General of the Basel Committee on Banking Supervision from 2003 to 2006.

The FSB coordinates at the international level the work of national financial authorities and international standard-setting bodies and develops and promotes 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 approximately 70 other jurisdictions through its six Regional Consultative Groups.

The FSB is chaired by Randal K. Quarles, Governor and Vice Chairman for Supervision, US Federal Reserve; its Vice Chair is Klaas Knot, President, De Nederlandsche Bank. The FSB Secretariat is located in Basel, Switzerland, and hosted by the Bank for International Settlements.