From September 8-9, 2024, in Basel, Switzerland, the delegation from the State Bank of Viet Nam (SBV), led by Governor Nguyen Thi Hong, attended the September Bimonthly Governors' Meeting of the Bank for International Settlements (BIS). During this meeting, the Governor participated in several sessions, including Emerging Market Economies Meeting, Asian Consultative Council (ACC) Meeting, Global Economy Meeting, and All Governors Meeting. On the sidelines of the meetings, Governor Nguyen Thi Hong held bilateral discussions with the BIS Asia-Pacific Office and several key partners to exchange information on monetary policy management, banking operations, and to discuss future cooperation development directions.
The SBV delegation attending the meeting at the BIS headquarters in Basel, Switzerland
During this time, the BIS Board of Directors announced that Governor Nguyen Thi Hong of the State Bank of Viet Nam had been appointed as the Chair of the ACC for the 2024-2026 term, effective from September 27, 2024.
The ACC was established in March 2001 and comprises Governors from 13 BIS member central banks in the Asia-Pacific region, including the Reserve Bank of Australia; People’s Bank of China; Hong Kong Monetary Authority (Hong Kong, China); Reserve Bank of India; Bank Indonesia; Bank of Japan; Bank of Korea; Bank Negara Malaysia; Reserve Bank of New Zealand; Bangko Sentral ng Pilipinas; Monetary Authority of Singapore; Bank of Thailand, and the State Bank of Viet Nam. The ACC serves as a communication and coordination channel between BIS’s Asia-Pacific members and the BIS Board of Directors and Management on issues of interest to the central banking community in the region. The ACC also provides advice for BIS’s activities in the Asia-Pacific region, advises BIS Management on financial services of interest to central banks in the region, and guides topics for BIS meetings in Asia.
The Governor meets and works with the BIS Asia-Pacific Office
As the Chair of the ACC, in addition to participating in the regular meetings of the BIS, Governor Nguyen Thi Hong will preside over the ACC Governors' meetings held in March and September each year, and any other extraordinary sessions of the ACC (if necessary).
The Bank for International Settlements, headquartered in Basel, Switzerland, was established in 1930. It is an international organization of central banks that plays a role in promoting international cooperation among central banks and other agencies for monetary and financial stability. Viet Nam officially became a member of the organization in October 2020. As of now, the Bank for International Settlements has 63 members.
HTQT