May 8, 2018 / 8:21 AM / a year ago

Bundesbank chief Weidmann gets new term as BIS Chair

German Bundesbank President Jens Weidmann is seen after G-20 finance ministers and central banks governors family photo during the IMF/World Bank spring meeting in Washington, U.S., April 20, 2018. REUTERS/Yuri Gripas

FRANKFURT (Reuters) - Bundesbank President Jens Weidmann will serve as a second three-year term as the chair of the Bank of International Settlements, an umbrella organization often called the central bank of central banks.

Weidmann, frequently mentioned as a candidate to succeed Mario Draghi as European Central Bank Chief Mario Draghi next year, has been the Chair of the BIS since Nov 2015.

Basel-based BIS, owned by around 60 central banks, is a gathering place for the world’s top monetary policymakers and its board includes top officials from the U.S. Federal Reserve, the Bank of Japan and the ECB, among others.

Reporting by Balazs Koranyi; editing by John Stonestreet

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