BoE unveils action plan for macroprudential powers
The Bank of England's (BoE) financial policy committee (FPC) revealed how and when it will use its macroprudential powers in a policy statement released today (January 14).
The UK government has proposed making the FPC responsible for the application of the countercyclical capital buffer (CCB) to all loans and exposures of banks to borrowers in the UK and able to direct other regulators to apply "more targeted" sectoral capital requirements (SCRs).
The SCR tool, the statement said, will allow
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