The Financial Stability Board has extended the term of its chair, Klaas Knot, until June 30, delaying the search for his successor. Knot was originally set to leave on December 1 but will now remain in his role until he retires as governor of the Dutch central bank after completing two terms.
Klaas Knot, governor of the Dutch central bank and chair of the Financial Stability Board, has issued a stark warning to politicians about the dangers of neglecting financial regulation. He cautioned that a lack of focus on safeguarding the financial system could lead to a scenario where governments are forced to devise rescue plans for an economy in free fall. This warning comes amid increasing global resistance to measures aimed at enhancing financial safety.
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