The resignations of Josef Tošovský and Miroslav Hrnčíř

At an extraordinary meeting on 31 October 2000, the CNB Bank Board acknowledged the request of Josef Tošovský to step down as Governor of the CNB as of 31 November 2000. The Board also acknowledged the request of Miroslav Hrnčíř to resign his post as Member of the Bank Board as of the same date. Mr Tošovský today submitted these resignations to the President of the Republic, Václav Havel. President Havel accepted the resignations.

Mr Tošovský was today appointed Chairman of the Financial Stability Institute of the Bank for International Settlements. He will assume his responsibilities on 1 December 2000. The full BIS press release can be viewed at: http://www.bis.org/press/p001031.htm.

Mr Hrnčíř intends to devote his time to research activities.

P. Palivec
CNB, Public Relation Division