Randal Quarles was confirmed today (November 26) as the new chair of the Financial Stability Board. He will take over from Mark Carney on December 2.
The Federal Reserve vice-chair for supervision will operate alongside Klaas Knot, president of the Netherlands Bank, who was appointed FSB vice-chair.
According to the agreement, which has been signed off by the FSB’s plenary, both will serve terms of three years. The plenary has agreed that Knot will take over from Quarles as chair at the end of
- Demonetisation backer becomes new RBI governor
- Kohn ‘deeply’ worried Fed might not have support to fight next crisis
- Central banks turn to visual communication in 2018
- Indian governor resigns after conflict with government
- Book notes: Macroprudential policy and practice, edited by Paul Mizen, Margarita Rubio and Philip Turner