What is the FPC for? - remarks by Alastair Clark

He begins by reviewing the actions taken in the UK to address the weaknesses in regulation exposed by the crisis. He highlights the regime now in place to resolve a failing bank and the greater clarity about ‘who’s in charge’ in a crisis. He also notes the changes being made to the organisation and approach to supervision of individual institutions and recognition of the fact that there needs to be greater attention to system-level developments in focussing micro-supervision. That has led to the creation of the FPC, which is currently operating in interim form.

Press release