On May 28 , 2018 was proposed by the Spanish Government for the position of governor of the Bank of Spain , and on May 30 was appointed to the position effective June 11 ; when he made a promise before Felipe VI of Spain at a ceremony held at Palace of Zarzuela . His appointment was one of the last decisions of the Government of Mariano Rajoy before the vote of no confidence that was successful and resulted in the downfall of Rajoy 's government . The written press has highlighted the technical nature of its profile , with no political past . The Ministry of Economy , following the announcement of his appointment , stressed that " he is an excellent candidate for the post of governor due to his great technical training , particularly in banking and monetary matters ; his political independence ; and his experience and prestige in the Bank of Spain and the European Central Bank . " Unidos Podemos has described him as " a hawk , but with an impeccable technical profile and , at least , he knows economics . " In 2019 , Hernández de Cos succeeded Stefan Ingves as chairman of the Basel Committee on Banking Supervision ( BCBS ) for a three-year term that can be renewed once
vote of no confidence
2018 vote of no confidence in the government of Mariano Rajoy
Pablo Hernández de Cos