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Bank of England Financial Policy Committee statement
The Chancellor of the Exchequer announced in June that HM Treasury wanted to grant the Bank of England’s Financial Policy Committee (FPC) additional powers to guard against financial stability risks from the housing market before the end of this Parliament. The FPC therefore discussed this at its meeting on 26 September and is announcing today its recommendation to HM Treasury on the form of these powers: The FPC recommends that HM Treasury exercise its statutory power to enable the FPC to direct, if necessary to protect and enhance financial stability, the PRA and FCA to require regulated lenders to place limits ... (full story)