BOK chief Shin Hyun-song tapped to lead BIS committee on payment systems
Bank of Korea (BOK) Gov. Shin Hyun-song has been tapped to lead a major committee on payment and related financial market infrastructure at the Bank for International Settlements (BIS), his office said Tuesday. Shin was named chairman of the Committee on Payments and Market Infrastructures (CPMI) following consultations among members at the BIS Global Economy Meeting (GEM), according to the BOK.…
South Korea's Bank of Korea Governor Shin Hyun-song has been appointed to lead a key committee at the Bank for International Settlements (BIS), the bank announced on Tuesday. The new role sees Shin chairing the Committee on Payments and Market Infrastructures (CPMI) following discussions among its members at the BIS Global Economy Meeting (GEM). His three-year term officially kicked off on November 1.
The CPMI is an international standards-setting organization focused on bolstering the stability and efficiency of payment systems and financial market infrastructure. It also functions as a vital consultative body for central banks within the BIS GEM. Importantly, Shin becomes the first non-American and non-European to helm the CPMI since its inception in 1990 as the Committee on Payment and Settlement Systems.
This appointment is anticipated to bolster the Bank of Korea's standing in the global financial community, as Shin steps into a leadership role in shaping international standards for payment and settlement systems.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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