The Government envisages that the FPC will contribute to the Bank's financial stability objective by identifying, monitoring, and taking action to remove or reduce, systemic risks with a view to protecting and enhancing the resilience of the UK financial system. The interim FPC will undertake, as far as possible, the forthcoming statutory FPC's macro-prudential role. An important initial task will be to undertake preparatory work and analysis into potential macro-prudential tools. The Government's consultation document states that the interim FPC "...will play a key role in the development of the permanent body's toolkit by sharing its analysis and advice on macro-prudential instruments with the Treasury, to help inform the Government's proposals for the FPC's final macro-prudential toolkit".
Press release