British central bank appoints new deputy governor for financial stability

LONDON, July 26 (Xinhua) -- The Bank of England (BoE), the central bank of Britain, announced Friday the appointment of a new deputy governor with responsibility for financial stability.

Jon Cunliffe, currently Britain's Permanent Representative to the European Union (EU), will take the new post from Nov. 1, 2013.

"As the Bank's Deputy Governor for Financial Stability, Sir Jon Cunliffe will play a crucial role in ensuring the safety and stability of the UK's financial sector and will sit on the Bank's Court of Directors, the Financial Policy Committee, the Monetary Policy Committee, the Board of the Prudential Regulation Authority, and will represent the Bank on a number of national and international bodies," the central bank said in the statement.

Finance Minister George Osborne said, "Sir Jon will be instrumental in ensuring the success of the Bank's enhanced responsibilities for financial stability."

"His deep experience in engaging with the European Union will be instrumental in ensuring Britain's financial services are well represented and protected. I wish him well in his new role," Osborne said.

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