Financial Policy Committee (FPC)
Bank veterans identify challenges to macroprudential policy
Bank of England paper co-authored by Andrew Large and Alastair Clark highlights difficulties in developing macroprudential policy toolkit; identifies conflicts with monetary and regulatory policy
Kohn calls for improved transparency for all
Donald Kohn calls for more information from banks; notes “considerable” resources and effort put in by Bank of England to better understand the market
King defends governance of FPC
Bank of England governor Mervyn King says Financial Policy Committee should remain a committee of the Bank Court to preserve independence
Sovereign debt crisis dominates BoE’s first FPC briefing
European sovereign debt crisis leads discussions at Bank of England’s first interim Financial Policy Committee briefing; body issues five policy recommendations to Financial Services Authority
FPC member gets call to Bank’s governing body
External Financial Policy Committee member Michael Cohrs appointed to Court of the Bank of England
UK lawmakers highlight lack of market expertise on FPC
Treasury Committee labels Alistair Clark an “insider”; calls on Michael Cohrs to make more public pronouncements
Kohn apologises for financial crisis
Former Federal Reserve vice-chairman and external FPC member Don Kohn apologises for failures that led to financial crisis; says FPC will need to ensure new tools are not circumvented by markets
UK lawmakers launch inquiry into BoE’s accountability
Influential parliamentary committee calls for views on the impact of regulatory change on Bank of England; changes will see Bank’s ambit expanded
UK Treasury fleshes out new regulatory set-up
UK Treasury details powers of the new macroprudential body; rebrands Consumer Protection and Markets Authority to reflect underlying purpose
Fed’s Kohn appointed to Bank’s FPC
UK government names four external members to interim Financial Policy Committee; former Fed vice-chair Donald Kohn among three ex-central bankers appointed to macroprudential body