Greater powers to safeguard stability will place more political scrutiny on central bank governance, Guillermo Ortiz, the chairman of the Bank for International Settlements (BIS) and governor of the Bank of Mexico.
Speaking to CentralBanking.com on the fringes of the BIS's Annual General Meeting, Ortiz said: "The idea that there has to be an authority in charge of macroprudential supervision is gaining ground, as is the idea that central banks should be charged with this."
However, the chairman
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