The Financial Stability Area of the Bank
The Financial Stability area has the main responsibility for discharging the Bank's remit to maintain the stability of the financial system as a whole. It works closely with the Treasury and the Financial Services Authority through the Standing Committee established in 1997, and with a range of authorities internationally. Responsibility for the management of the Financial Stability area lies with the Executive Director for Financial Stability, reporting to the Deputy Governor for Financial Stability.
Financial Stability Board
The Bank's contribution to the tripartite Standing Committee
on financial stability issues is informed by the operations
of the Bank's Financial Stability Board. The Board is a high-level
internal body providing guidance on priorities and the direction
of work in the Financial Stability area. It prioritises potential
risks to UK financial stability and assesses which warrant follow-up
action and reviews progress made in mitigating the principal
threats. The Board is chaired by the Bank's Deputy Governor
for Financial Stability and meets on a regular basis.
Divisional responsibilities within the Financial Stability
area
The Financial Stability divisions analyse and asses the structure
and functioning of UK and overseas financial markets and the
operation of the UK and international financial systems. The
area makes policy proposals and encourages changes designed
to increase the financial system's overall safety and effectiveness.
It also contributes to the monetary policy process, and promotes
public understanding of financial stability issues through,
for instance, the biannual Financial Stability Report.
