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.
Macroprudential policy at the Bank of England