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Bank of Canada Gov. Mark Carney hired as world banking regulator

Bank of Canada Governor Mark Carney on Jan. 19, 2011. THE CANADIAN PRESS/Adrian Wyld.

Bank of Canada Governor Mark Carney has been appointed the world’s top banking regulator at the G20 summit in France.

The position at the Financial Stability Board is part-time, meaning Carney will continue in his position at the Bank of Canada.

As head of the Financial Stability Board, Carney will oversee and attempt to enforce reforms in global financial regulation.

Carney, whose seven-year term at the Bank of Canada expires in 2015, has been a strong advocate of new, stringent regulations for banks.

It is not often Canadians are considered for top jobs at global financial institutions, but Carney appears to be an exception.

Earlier this year, he appeared in a London bookmaker’s list for the International Monetary Fund’s top job, which eventually went to France’s Christine Lagarde.

Last year, Carney was named chairman to a committee on financial stability at the Bank for International Settlements, of which the FSB is a part.