Stanley Fischer, the vice chairman of the US Federal Reserve and one of the best known central bankers in the world, is stepping down almost a year before his term is due to end.

Mr Fischer said in a letter addressed to President Donald Trump on Wednesday that he would be resigning from the board of governors "on or around October 13" for personal reasons. His term as vice-chairman was due to end in June 2018.

The former Bank of Israel Governor, who has taught many top economists including European Central Bank president Mario Draghi, was appointed by former US President Barack Obama in 2014. He has recently warned against Trump's plans to unwind rules on big banks.

In a short letter to Mr Trump he wrote "informed by the lessons of the recent financial crisis, we have built upon earlier steps to make the financial system stronger and more resilient to provide the credit so vital to the prosperity of our country's households and businesses".