Y V Reddy appointed Chairman of the BIS Asian Consultative Council

The Board of Directors of the Bank for International Settlements (BIS) today announced Yaga V Reddy as Chairman of the BIS Asian Consultative Council (ACC). Dr Reddy is Governor of the Reserve Bank of India.

Dr Reddy's appointment is for a term of two years as from March 2007. He succeeds Zhou Xiaochuan, Governor of the People's Bank of China, as ACC Chairman. Mr Zhou chaired the Council from March 2005 to February 2007. The ACC Governors expressed their gratitude to Mr Zhou for his leadership during his time as Chairman.

The ACC comprises the Governors of the BIS member central banks in the Asia-Pacific region. It was established in 2001 to provide a vehicle for communication between these central banks and the BIS Board and Management on matters of interest and concern to the Asian central banking community. The BIS Representative Office for Asia and the Pacific in Hong Kong SAR provides the secretariat services for the ACC.