Nakaso returned as key BOJ exec

Kyodo

Finance Minister Koriki Jojima on Monday reappointed Hiroshi Nakaso as executive director of the Bank of Japan.

Nakaso will be responsible, as head of a Bank for International Settlements panel, for compiling a report on the probe into the rate-rigging scandal over the London Interbank Offered Rate, or Libor.

It is the first time a BOJ executive director has been reappointed since the BOJ Law came into force in 1998.

Nakaso, who will serve a second four-year term, assumed the post in November 2008 after serving as head of the BOJ’s Financial Markets Department.

The BIS report will be due by January.