Stefan Nils Magnus Ingves (born 23 May 1953) is a Finnish-born Swedish 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. 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.
Early life Ingves has a Finland Swedish background and grew up in the village of Närpes in western Finland.
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.Riksbank, Ingves CV
Career Ingves was named Governor of Sveriges Riksbank in 2006. In response to the 2008-2011 Icelandic financial crisis, Ingves argued that "in times of uncertainty and turmoil, the central banks have a responsibility to cooperate."Landler, Mark. "3 Nordic Banks Help Iceland Prop Up Currency," New York Times. 17 May 2008; retrieved 17 August 2011 Ingves confronted the "task of safeguarding macroeconomic and financial stability" in 2008; "Nordic central banks act to support Icelandic currency," New York Times. 16 May 2008; retrieved 17 August 2011 and in 2009, he presided over a decline to the lowest official Swedish interest rate since records began in 1907. "Swedish central bank cuts rates to record 1 percent," New York Times. 1 November 2009; retrieved 17 August 2011
From 2011 until 2019, Ingves served as the Chairman of the Basel Committee on Banking Supervision.Fact sheet - Basel Committee on Banking Supervision at the Bank for International Settlements websiteCaroline Binham (March 7, 2019), Bank of Spain governor appointed head of Basel Committee for banks Financial Times.
Other activities Bank for International Settlements (BIS), Ex-Officio Member of the Board of DirectorsBoard of Directors Bank for International Settlements (BIS). 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 GovernorsBoard of Governors International Monetary Fund (IMF).
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 . WorldCat Identities: Ingves, Stefan 1953-
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)
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