Interim Financial Policy Committee

In anticipation of legislation to create a Financial Policy Committee (FPC), outlined in the Government's consultation document 'A new approach to financial regulation: building a stronger system', published today, the Government and the Bank are today announcing the establishment of an interim Financial Policy Committee.
Published on 17 February 2011

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".

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