Macroprudential policy at the Bank of England

Quarterly Bulletin 2013 Q3
Published on 17 September 2013

By Paul Tucker, Deputy Governor for Financial Stability, and Simon Hall and Aashish Pattani of the Bank’s Macroprudential Strategy Division. 

A vital element of recent reforms to the UK architecture of financial regulation is the creation of a macroprudential authority at the Bank of England — the Financial Policy Committee (FPC). This article explains the role and powers of the FPC in relation to risks that threaten the resilience of the UK financial system as a whole. It also describes some of the processes supporting the new committee.

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