Carney backs new leverage ratio powers

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The Bank of England Financial Policy Committee (FPC) could gain a "formal power of direction" over the leverage ratio applied to UK banks, which would allow it to vary the size of the ratio between institutions and over time.

George Osborne, the UK's chancellor of the exchequer, today asked the FPC to "assess what is the full set of powers that it needs in order to fulfil its statutory mandate", including "whether and when" it would need any additional powers of direction over the leverage ratio

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