Bank of England asks for new tools to curb mortgage lending

The Bank of England in London
The Bank of England

The Bank of England (BoE) has recommended it be granted the power to operate two new tools that may help it maintain stability in the mortgage market.

Responding to a request by the UK's chancellor of the exchequer, George Osborne, the Financial Policy Committee (FPC), which is responsible for macro-prudential supervision, said it should be granted powers to cap loan-to-value (LTV) and debt-to-income ratios for mortgage lending.

In June, Osborne said the government planned to grant the central

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