BIS Appoints Benoît Cœuré as CPSS Chairman

The Bank for International Settlements has appointed Benoît Cœuré as chairman of the Committee on Payment and Settlement Systems (CPSS).

Cœuré is currently a member of the executive board of the European Central Bank, a position he has held since January 2012 and where he is responsible for payments and market infrastructure, market operations and economic research. Previously, Cœuré served as deputy director general of the French Treasury and as chief executive of the French debt management office, Agence France Trésor.

As CPSS chairman, Cœuré will serve a three-year term. He will replace Paul Tucker who has served as chairman since April 2012. Tucker left this role and his position as deputy governor, Financial Stability of the Bank of England, to become a senior fellow at Harvard.

Upon his appointment, Cœuré issued the following statement: “I am honoured to have been appointed by the central bank governors of the Global Economy Meeting as chairman of the Committee on Payment and Settlement Systems (CPSS). Recent regulatory reforms have emphasised the crucial role that financial market infrastructures play in maintaining financial stability. My aim will be to serve the objective that central banks around the world have to ensure that these infrastructures remain sound and efficient. I will do so in the spirit of cooperation with other relevant public authorities and dialogue with market actors, which has been achieved by Paul Tucker and his predecessors in this position.”