July 29, 2016 / 10:31 AM / in a year

Bank of Spain deputy governor to head BIS unit

MADRID, July 29 (Reuters) - The Bank of Spain said on Friday its deputy governor Fernando Restoy was set to become the next chairman of the Bank of International Settlement's Financial Stability Institute.

Restoy will take up the position on Jan. 1, 2017, and replace Josef Tosovsky, who had been in the job since 2000.

The Financial Stability Institute was set up as a joint initiative between the BIS and the Basel Committee on Banking Supervision to help improve practices and standards in the financial industry. (Reporting by Sarah White, Editing by Paul Day)

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