Jaime Caruana
Encyclopedia
Jaime Caruana is the General Manager of the Bank for International Settlements
. His five-year term began on April 1, 2009. He was also the Governor of the Bank of Spain from July 2000 to July 2006.
Caruana was born in Valencia
, and graduated in telecommunications engineering from the Technical University of Madrid
(UPM) in 1974. He served a six year term as Bank of Spain Governor, beginning July 21, 2000 and ending in July 2006. Currently he is a member of the influential Washington-based financial advisory body, the Group of Thirty
. He was also chairman of the Basel Committee on Banking Supervision
since May, 2003. Caruana took over the Basel II
project at a difficult time, and won respect and praise from both regulators and the financial services industry for ultimately delivering the revised accord in June 2004.In August 2006, Jaime Caruana was appointed to the International Monetary Fund
(IMF) by Rodrigo de Rato, as counsellor and director of the Monetary and Capital Markets Department, a new financial, capital and regulatory department.
He is succeeded at the Bank of Spain by former secretary of State for Commerce, Miguel Ángel Fernández Ordóñez
.
Bank for International Settlements
The Bank for International Settlements is an intergovernmental organization of central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks." It is not accountable to any national government...
. His five-year term began on April 1, 2009. He was also the Governor of the Bank of Spain from July 2000 to July 2006.
Caruana was born in Valencia
Valencia (city in Spain)
Valencia or València is the capital and most populous city of the autonomous community of Valencia and the third largest city in Spain, with a population of 809,267 in 2010. It is the 15th-most populous municipality in the European Union...
, and graduated in telecommunications engineering from the Technical University of Madrid
Technical University of Madrid
The Technical University of Madrid or sometimes called Polytechnic University of Madrid is a Spanish University, located in Madrid. It was founded in 1971 as the result of merging different Technical Schools of Engineering and Architecture, originated mainly in the 18th century...
(UPM) in 1974. He served a six year term as Bank of Spain Governor, beginning July 21, 2000 and ending in July 2006. Currently he is a member of the influential Washington-based financial advisory body, the Group of Thirty
Group of Thirty
The Group of Thirty, often abbreviated to G30, is an international body of leading financiers and academics which aims to deepen understanding of economic and financial issues and to examine consequences of decisions made in the public and private sectors related to these issues...
. He was also chairman of the Basel Committee on Banking Supervision
Basel Committee on Banking Supervision
The Basel Committee on Banking Supervision is a committee of banking supervisory authorities that was established by the central bank governors of the Group of Ten countries in 1975. It provides a forum for regular cooperation on banking supervisory matters. Its objective is to enhance...
since May, 2003. Caruana took over the Basel II
Basel II
Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision...
project at a difficult time, and won respect and praise from both regulators and the financial services industry for ultimately delivering the revised accord in June 2004.In August 2006, Jaime Caruana was appointed to the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
(IMF) by Rodrigo de Rato, as counsellor and director of the Monetary and Capital Markets Department, a new financial, capital and regulatory department.
He is succeeded at the Bank of Spain by former secretary of State for Commerce, Miguel Ángel Fernández Ordóñez
Miguel Ángel Fernández Ordóñez
Miguel Ángel Fernández Ordóñez is a Spanish economist and politician, member of the Socialist Workers' Party and current Governor of the Bank of Spain. He is the younger brother of Francisco Fernández Ordóñez, also a Socialist politician, and he is married to Inés Alberdi.He was born in Madrid in...
.