4 November 2011
Ottawa, Ontario
Prime Minister Stephen Harper today welcomed the appointment of Bank of Canada Governor Mark Carney as Chair of the Financial Stability Board (FSB). The appointment was announced during the G-20 Leaders Summit in Cannes, France.
“The selection of Mr. Carney as Chair of the Financial Stability Board is testament to his skills and to the strength of Canada’s financial system,” said the Prime Minister. “This is the right appointment at the right time as the world works to strengthen the global financial system and sustain the fragile global economic recovery”.
The FSB was 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. The FSB plays a key role in advancing G-20 financial reforms, including monitoring and reporting on their implementation.
For four years in a row, the World Economic Forum has rated Canada’s banking system as the soundest in the world. More recently, five Canadian financial institutions were named to Bloomberg’s list of the world’s strongest banks, more than any other country, and Forbes Magazine recently named Canada as the best place in the world to do business.
Biographical notes on Gov. Carney can be found at: http://www.bankofcanada.ca/author/mark-carney/.
