Mario Draghi to succeed Roger Ferguson as chairman of the Financial Stability Forum

Following consultations within the Financial Stability Forum's (FSF) membership, the G7 finance ministers and central bank governors have confirmed support for the designation of the current governor of the Bank of Italy, Mario Draghi, as chairman of the FSF.

Draghi will succeed Roger W Ferguson, Jr, who has been the FSF's Chairman since May 2003, when he steps down at the end of April.

The FSF was created in 1999 to promote international financial stability through enhanced information exchange and international cooperation in financial supervision and surveillance. The FSF's next meeting is planned for September 2006.

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