Federal Reserve Vice Chairman Donald Kohn announced on Monday he will leave the Fed at the end of his term as Vice Chairman on June 23, giving President Barack Obama the chance to appoint a key official at the central bank.

Kohn was a career Fed staff member who rose through the ranks to become one of the more influential Fed vice chairmen in the central bank's history. His departure would leave three seats vacant on the seven-chair Fed board in Washington.

(Reporting by Mark Felsenthal; Editing by James Dalgleish)