Central Banking

NY Fed's Geithner appointed CPSS Chairman

The Governors of the central banks of the G10 countries have appointed Timothy F Geithner as Chairman of the Committee on Payment and Settlement Systems (CPSS) with effect from June 2005.

Mr Geithner will succeed Tommaso Padoa-Schioppa, who has chaired the Committee since June 2000. Mr Padoa-Schioppa retires on 31 May 2005. Currently a Member of the Executive Board of the European Central Bank, Mr Padoa-Schioppa has held many key international positions and has done much to deepen cooperation