BOK Gov. Rhee named to lead BIS committee on financial system

▲ In the file photo, taken July 13, 2023, Bank of Korea (BOK) Gov. Rhee Chang-yong holds a Monetary Policy Committee meeting at the central bank in Seoul. (Pool photo) (Yonhap)

BOK chief-BIS committee

BOK Gov. Rhee named to lead BIS committee on financial system

SEOUL, Nov. 15 (Yonhap) -- The head of South Korea's central bank has been named to lead a key committee of the Bank for International Settlements (BIS) that oversees the global financial system, the Bank of Korea said Wednesday.

Bank of Korea (BOK) Gov. Rhee Chang-yong was appointed the chair of the BIS Committee on the Global Financial System at a BIS meeting in Basel, Switzerland, on Monday (local time).

Rhee will serve a three-year term as head of the BIS committee that will end in October 2026, according to the BOK. His term as BOK chief is set to end in April 2026.

The committee is mainly tasked with monitoring and identifying sources of stress that can cause instability in the global financial system, according to the BIS.

It holds four regular meetings throughout the year, along with emergency meetings when necessary.

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