Westminster spells out Bank’s importance in new regulatory structure


The UK government on Monday underlined the increased weight of responsibility that the Bank of England will face, in a consultative document launched to gather industry opinion on its proposals to scrap the tripartite system.

The new Financial Policy Committee (FPC), the macroprudential authority that will be housed within the Bank, will dictate moves to be taken by the Prudential Regulation Authority, the body that is to replace the Financial Services Authority (FSA), and the new Consumer Prote

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