BoE's Tucker clarifies FPC's macro-prudential powers
Paul Tucker, the Bank of England's (BoE) deputy governor for financial stability, has revealed additional details of the operation of the Bank of England's Financial Policy Committee (FPC) and its powers over macro-prudential policy.
The FPC sits above the UK's twin financial regulators, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), setting the overall strategy for financial stability policy and using its powers to direct the operations of the two regulators.
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