Stefan Nils Magnus Ingves (born 23 May 1953) is a

Finnish Finnish may refer to: * Something or someone from, or related to Finland * Culture of Finland * Finnish people or Finns, the primary ethnic group in Finland * Finnish language, the national language of the Finnish people * Finnish cuisine See also ...

-born Swedish banker, economist and civil servant who served as the Governor of Sveriges Riksbank, the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a centra ...

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 Financial Supervisory Authority ( sv, Finansinspektionen, FI) is the Swedish government agency responsible for financial regulation in Sweden. It is responsible for the oversight, regulation and authorisation of financial markets and their part ...

Erik Thedéen Erik Hilding Thedéen (born 1 September 1963) is a Swedish economist, business leader and civil servant, who served as Director General of the Swedish Financial Supervisory Authority from 2015 to 2022. Since 1 January 2023 he serves as the Gover ...

Early life

Ingves has a

Finland Swedish Finland Swedish or Fenno-Swedish ( sv, finlandssvenska; fi, suomenruotsi) is a general term for the variety of the Swedish language and a closely related group of Swedish dialects spoken in Finland by the Swedish-speaking population, commonly ...

background and grew up in the village of Närpes in western Finland. In 1984, he earned a Ph.D. in

Economics Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics anal ...

at the Stockholm School of Economics and his thesis is called "aspects of trade credits", about credit models between companies.

Career

Ingves was named Governor of

Sveriges Riksbank Sveriges Riksbank, or simply the ''Riksbank'', is the central bank of Sweden. It is the world's oldest central bank and the fourth oldest bank in operation. Etymology The first part of the word ''riksbank'', ''riks'', stems from the Swedish w ...

in 2006. In response to the Icelandic financial crisis of 2008, Ingves argued that "in times of uncertainty and turmoil, the central banks have a responsibility to cooperate." Ingves confronted the "task of safeguarding macroeconomic and financial stability" in 2008; and in 2009, he presided over a decline to the lowest official Swedish interest rate since records began in 1907. From 2011 until 2019, Ingves served as the Chairman of the

Basel Committee on Banking Supervision The Basel Committee on Banking Supervision (BCBS) is a committee of banking supervisory authorities that was established by the central bank governors of the Group of Ten (G10) countries in 1974. The committee expanded its membership in 2009 a ...

Other activities

Bank for International Settlements The Bank for International Settlements (BIS) is an international financial institution owned by central banks that "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work th ...

(BIS), Ex-Officio Member of the Board of Directors *

Financial Stability Board The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established after the G20 London summit in April 2009 as a successor to the Financial Stability For ...

(FSB), Ex-Officio Member of the Standing Committee on Supervisory and Regulatory Cooperation *

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster glo ...

(IMF), Ex-Officio Member of the Board of Governors

Selected works

In a statistical overview derived from writings by and about Stefan Ingves,

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WorldCat WorldCat is a union catalog that itemizes the collections of tens of thousands of institutions (mostly libraries), in many countries, that are current or past members of the OCLC global cooperative. It is operated by OCLC, Inc. Many of the O ...

encompasses roughly 40+ works in 50+ publications in 3 languages and 150+ library holdings . WorldCat IdentitiesIngves, Stefan 1953-
/ref> * ''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)

Notes

References

, - {{DEFAULTSORT:Ingves, Stefan 1953 births Swedish economists Governors of Sveriges Riksbank Stockholm School of Economics alumni Swedish civil servants Finnish emigrants to Sweden Swedish-speaking Finns Living people