Shin takes payments chair as Bausili prepares to lead Americas council
Bank of Korea Governor Hyun Song Shin takes charge of the Bank for International Settlements' payments standard-setting committee. Tiff Macklem stays as Americas council chair until March 31, 2027, before Santiago Bausili begins a two-year term on April 1, 2027.
Three appointments set the succession
Central bank Governors of the Global Economy Meeting (GEM) at the Bank for International Settlements (BIS) appointed Hyun Song Shin to chair the Committee on Payments and Market Infrastructures (CPMI).
His renewable three-year term began on November 1, 2026.
Shin succeeds Fabio Panetta, Governor of the Bank of Italy and Chair of the BIS Board of Directors.
The Board extended Bank of Canada Governor Tiff Macklem's term as Chair of the Consultative Council for the Americas (CCA) until March 31, 2027.
It appointed Santiago Bausili, Governor of the Central Bank of Argentina, to succeed Macklem on April 1, 2027, for two years.
The decisions cover leadership of both the global payments committee and the regional advisory council.
Global standards meet regional advice
The CPMI brings central banks together to monitor and analyse payment, clearing and settlement systems and develop international standards and guidance.
Established in May 2008, the CCA advises the BIS Board of Directors.
Its members are the Governors of the eight BIS member central banks in the Americas: Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru and the United States.
The BIS Representative Office for the Americas in Mexico City provides the council's secretariat.
Leadership changes, mandates remain
The appointments change who leads two bodies with distinct responsibilities.
Shin chairs international payments standard-setting, while Bausili will lead regional advice to the BIS Board.
The announcement contains no changes to payment standards or the council's mandate.