Stefan Ingves
Stefan Nils Magnus Ingves (born 23 May 1953) is a Finnish-born Swedish[4] banker, economist and civil servant who served as the Governor of Sveriges Riksbank, the central bank of Sweden, from 2006 to 2022. He serves as the Vice-Chairman of the Bank for International Settlements (BIS) since November 2021.[5] In June 2022, Ingves announced that he will resign as Governor of Sveriges Riksbank on 31 December 2022. He was succeeded in the role by the former director of the Swedish Financial Supervisory Authority, Erik Thedéen.[6]
Stefan Ingves | |
|---|---|
| Governor of Sveriges Riksbank | |
| In office 1 January 2006[1] – 31 December 2022 | |
| Deputy | Cecilia Skingsley |
| Preceded by | Lars Heikensten[2] |
| Succeeded by | Erik Thedéen |
| Personal details | |
| Born | Stefan Nils Magnus Ingves 23 May 1953 Turku, Finland |
| Nationality | Swedish[3][N 1] |
| Alma mater | Stockholm School of Economics[3] |
| Occupation | Banker and civil servant. |
| Profession | Economist.[3] |
Early life
Ingves has a Finland Swedish background and grew up in the village of Närpes in western Finland.[3]
In 1984, he earned a Ph.D. in Economics at the Stockholm School of Economics and his thesis is called "aspects of trade credits", about credit models between companies.[7]
Career
Ingves was named Governor of Sveriges Riksbank in 2006.[3] In response to the Icelandic financial crisis of 2008, Ingves argued that "in times of uncertainty and turmoil, the central banks have a responsibility to cooperate."[8] Ingves confronted the "task of safeguarding macroeconomic and financial stability" in 2008;[9] and in 2009, he presided over a decline to the lowest official Swedish interest rate since records began in 1907.[10]
From 2011 until 2019, Ingves served as the Chairman of the Basel Committee on Banking Supervision.[11][12]
Other activities
- Bank for International Settlements (BIS), Ex-Officio Member of the Board of Directors[13]
- Financial Stability Board (FSB), Ex-Officio Member of the Standing Committee on Supervisory and Regulatory Cooperation
- International Monetary Fund (IMF), Ex-Officio Member of the Board of Governors[14]
Selected works
In a statistical overview derived from writings by and about Stefan Ingves, OCLC/WorldCat encompasses roughly 40+ works in 50+ publications in 3 languages and 150+ library holdings .[15]
- Den oreglerade kreditmarknaden : en expertrapport från 1980 års kreditpolitiska utredning (1981)
- Aspects of Trade Credit (1984)
- The Nordic Banking Crisis from an International Perspective (2002)
- Issues in the Establishment of Asset Management Companies (2004)
- Lessons Learned from Previous Banking Crises: Sweden, Japan, Spain, and Mexico (2009)
- Central Bank Management (2009)
Notes
- ^ Nationalencyklopedin article about Ingves doesn't mention any nationality which per default means that the individual in question is Swedish. Also according to the Instrument of Government 1974, Chapter 11: Administration of justice and general administration 15 June 2010 at the Wayback Machine, Article 9, Paragraph 3 only a Swedish citizen can serve as the head of an agency under the Riksdag. This requirement has been removed from the Constitution from 1 January 2011, and is instead supposed to be regulated in an ordinary law.
References
- ^ . Sveriges Riksbank. 4 May 2010. Archived from the original on 27 August 2010. Retrieved 2 September 2010.
- ^ "Lars Heikensten". Nationalencyklopedin (in Swedish). Retrieved 2 September 2010.
- ^ a b c d e "Stefan Ingves". Nationalencyklopedin (in Swedish). Retrieved 2 September 2010. (subscription required)
- ^ "Stefan Ingves awarded a Finnish order". www.riksbank.se. Retrieved 17 June 2022.
- ^ "BIS Board of Directors announces leadership appointments". 8 November 2021.
{{cite journal}}: Cite journal requires|journal=(help) - ^ Johnson, Simon; Jacobsen, Stine (17 June 2022). "Swedish central bank picks FSA's Thedeen as new head as Ingves era ends". Reuters. Retrieved 17 June 2022.
- ^ Riksbank, Ingves CV
- ^ Landler, Mark. "3 Nordic Banks Help Iceland Prop Up Currency," New York Times. 17 May 2008; retrieved 17 August 2011
- ^ "Nordic central banks act to support Icelandic currency," New York Times. 16 May 2008; retrieved 17 August 2011
- ^ "Swedish central bank cuts rates to record 1 percent," New York Times. 1 November 2009; retrieved 17 August 2011
- ^ Fact sheet - Basel Committee on Banking Supervision at the Bank for International Settlements website
- ^ Caroline Binham (March 7, 2019), Bank of Spain governor appointed head of Basel Committee for banks Financial Times.
- ^ Board of Directors Bank for International Settlements (BIS).
- ^ Board of Governors International Monetary Fund (IMF).
- ^ WorldCat Identities: Ingves, Stefan 1953-