DJ BIS Invites New Members, Names Tietmeyer Vice-Chairman

DJ BIS Invites New Members, Names Tietmeyer Vice-Chairman

BASEL:The board of directors of the Bank for International Settlement said Monday it had invited six central banks to BIS membership and named Hans Tietmeyer as vice-chairman.

The new members are the Bank of Algeria, the Central Bank of Chile, Bank Indonesia, the Bank of Israel, the Reserve Bank of New Zealand and the Central Bank of the Philippines.

In a separate decision, the board elected Hans Tietmeyer, former president of the Deutsche Bundesbank, as its vice- chairman. The appointment is effective from July 1, 2003, to Dec. 31, 2005. He succeeds Lord Kingsdown, who has held the post since 1996.--Dow Jones