Haldane defends BoE's macro-prudential policy

andrew-haldane

Andrew Haldane, a Bank of England executive director, today defended the Financial Policy Committee's (FPC) instruction to UK banks to make up a £25 billion ($37.8 billion) capital shortfall by the end of the year, insisting the FPC is not contradicting the central bank's counter-cyclical macro-prudential policy.

Haldane, a member of the FPC, insisted the statement was made "with a view to stimulating lending" and not to tighten regulation on banks. The logic, he said, is that the banks that are

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