FSB Names Tombini to Chair Budget Committee

The Financial Stability Board (FSB) has appointed Alexandre Tombini, governor of Banco Central do Brasil, as chair of its Standing Committee on Budget and Resources (SCBR), for a term beginning on February 1 and ending on April 30, 2018.

SCBR assesses FSB resource needs and sets budget and resource frameworks for the board. Tombini will replace Jens Weidmann, president of Deutsche Bundesbank, who chaired SCBR since October 2012. Tombini has been in his role at Banco Central do Brasil since 2011, when he also joined the FSB's Plenary and Steering Committee.

The FSB addresses reference data management matters through its implementation of the legal entity identifier (LEI). The board founded the Global LEI Foundation which administers the standard. The FSB is headquartered at the Bank of International Settlements (BIS) in Basel, Switzerland. BIS also oversees the Basel Committee on Banking Supervision, which devised the Basel III rules and BCBS 239. Tombini has also been a BIS board member since December 2013.