November 26, 2018 / 2:07 PM / 22 days ago

Fed's Quarles to chair Financial Stability Board

LONDON, Nov 26 (Reuters) - Federal Reserve Governor Randal Quarles has been appointed chair of the Financial Stability Board, the international regulatory body said on Monday.

He replaces Bank of England Governor Mark Carney, who steps down in December as chair of the FSB, a body that has been coordinating new banking rules for the Group of 20 economies since the global financial crisis a decade ago.

The FSB said that Klaas Knot, president of the Dutch central bank, has been appointed vice chair of the FSB, and will succeed Quarles within three years for a period of three years. (Reporting by Huw Jones; Editing by Toby Chopra)

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