Sovereign debt crisis dominates BoE’s first FPC briefing

Close up of Bank Of England facade with the statue of Duke of Wellington Statue created by Francis Chantrey City of London England

The sovereign debt crisis in Europe topped the agenda at the Bank of England's inaugural interim Financial Policy Committee (FPC) press conference on Friday, after it issued six recommendations to improve the supervision of UK banks.

In its first act as "guardian of the resilience of the UK financial system", the FPC, chaired by Mervyn King, the Bank's governor, announced five policy recommendations to the Financial Services Authority (FSA) to improve transparency and financial stability in the

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