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Macroprudential policy at the Bank of England

Author

Listed:
  • Paul Tucker

    (Bank of England)

  • Simon Hall

    (Bank of England)

  • Aashish Pattani

    (Bank of England)

Abstract

A vital element of recent reforms to the UK architecture of financial regulation is the creation of a macroprudential authority at the Bank of England — the Financial Policy Committee (FPC). This article explains the role and powers of the FPC in relation to risks that threaten the resilience of the UK financial system as a whole. It also describes some of the processes supporting the new committee.

Suggested Citation

  • Paul Tucker & Simon Hall & Aashish Pattani, 2013. "Macroprudential policy at the Bank of England," Bank of England Quarterly Bulletin, Bank of England, vol. 53(3), pages 192-200.
    • Handle: RePEc:boe:qbullt:0109
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    References listed on IDEAS

    as
    1. Amandeep Rehlon & Dan Nixon, 2013. "Central counterparties: what are they, why do they matter and how does the Bank supervise them?," Bank of England Quarterly Bulletin, Bank of England, vol. 53(2), pages 147-156.
    2. Richard Button & Silvia Pezzini & Neil Rossiter, 2010. "Understanding the price of new lending to households," Bank of England Quarterly Bulletin, Bank of England, vol. 50(3), pages 172-182.
    3. Marc Farag & Damian Harland & Dan Nixon, 2013. "Bank capital and liquidity," Bank of England Quarterly Bulletin, Bank of England, vol. 53(3), pages 201-215.
    4. Andrew Bailey & Sarah Breeden & Gregory Stevens, 2012. "The Prudential Regulation Authority," Bank of England Quarterly Bulletin, Bank of England, vol. 52(4), pages 354-362.
    5. Robert Hills & Glenn Hoggarth, 2013. "Cross-border bank credit and global financial stability," Bank of England Quarterly Bulletin, Bank of England, vol. 53(2), pages 126-136.
    6. Emma Murphy & Stephen Senior, 2013. "Changes to the Bank of England," Bank of England Quarterly Bulletin, Bank of England, vol. 53(1), pages 20-28.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Pedersen, Rasmus Hundsbæk & Kweka, Opportuna, 2017. "The political economy of petroleum investments and land acquisition standards in Africa: The case of Tanzania," Resources Policy, Elsevier, vol. 52(C), pages 217-225.
    2. Rashmi Harimohan & Benjamin Nelson, 2014. "How might macroprudential capital policy affect credit conditions?," Bank of England Quarterly Bulletin, Bank of England, vol. 54(3), pages 287-303.
    3. John Footman, 2014. "The Court of the Bank of England," Bank of England Quarterly Bulletin, Bank of England, vol. 54(1), pages 28-36.
    4. Nicolò Fraccaroli & Alessandro Giovannini & Jean-François Jamet & Eric Persson, 2023. "Central Banks in Parliaments: A Text Analysis of the Parliamentary Hearings of the Bank of England, the European Central Bank, and the Federal Reserve," International Journal of Central Banking, International Journal of Central Banking, vol. 19(2), pages 543-600, June.
    5. Noss, Joseph & Toffano, Priscilla, 2016. "Estimating the impact of changes in aggregate bank capital requirements on lending and growth during an upswing," Journal of Banking & Finance, Elsevier, vol. 62(C), pages 15-27.
    6. Oliver Bush & Samuel Knott & Chris Peacock, 2014. "Why is the UK banking system so big and is that a problem?," Bank of England Quarterly Bulletin, Bank of England, vol. 54(4), pages 385-395.
    7. Tamarah Shakir & Matthew Tong, 2014. "The interaction of the FPC and the MPC," Bank of England Quarterly Bulletin, Bank of England, vol. 54(4), pages 396-408.
    8. Joseph Noss & Priscilla Toffano, 2014. "Estimating the impact of changes in aggregate bank capital requirements during an upswing," Bank of England working papers 494, Bank of England.
    9. Martin Arrowsmith & Martin Griffiths & Jeremy Franklin & Evan Wohlmann & Garry Young & David Gregory, 2013. "SME forbearance and its implications for monetary and financial stability," Bank of England Quarterly Bulletin, Bank of England, vol. 53(4), pages 296-303.
    10. James Cloyne & Ryland Thomas & Alex Tuckett & Samuel Wills, 2015. "A sectoral framework for analyzing money, credit and unconventional monetary policy," Bank of England working papers 556, Bank of England.
    11. Emily Beau & John Hill & Tanveer Hussain & Dan Nixon, 2014. "Bank funding costs: what are they, what determines them and why do they matter?," Bank of England Quarterly Bulletin, Bank of England, vol. 54(4), pages 370-384.
    12. Marc Farag & Damian Harland & Dan Nixon, 2013. "Bank capital and liquidity," Bank of England Quarterly Bulletin, Bank of England, vol. 53(3), pages 201-215.
    13. Shiv Chowla & Lucia Quaglietti & Lukasz Rachel, 2014. "How have world shocks affected the UK economy?," Bank of England Quarterly Bulletin, Bank of England, vol. 54(2), pages 167-179.
    14. Bank for International Settlements, 2016. "Objective-setting and communication of macroprudential policies," CGFS Papers, Bank for International Settlements, number 57.
    15. Nick Butt & Alice Pugh, 2014. "Credit spreads: capturing credit conditions facing households and firms," Bank of England Quarterly Bulletin, Bank of England, vol. 54(2), pages 137-148.
    16. International Monetary Fund, 2016. "Sweden: Selected Issues," IMF Staff Country Reports 2016/354, International Monetary Fund.
    17. Fabrizio Cadamagnani & Rashmi Harimohan & Kumar Tangri, 2015. "A bank within a bank: how a commercial bank’s treasury function affects the interest rates set for loans and deposits," Bank of England Quarterly Bulletin, Bank of England, vol. 55(2), pages 153-164.
    18. Zhechun He & Peter Simmons, 2018. "A Life Cycle Model with Housing Tenure, Constrained Mortgage Finance and a Risky Asset under Uncertainty," Discussion Papers 18/18, Department of Economics, University of York.
    19. Michael McLeay & Amar Radia & Ryland Thomas, 2014. "Money creation in the modern economy," Bank of England Quarterly Bulletin, Bank of England, vol. 54(1), pages 14-27.
    20. Rhiannon Sowerbutts & Peter Zimmerman & Ilknur Zer, 2013. "Banks’ disclosure and financial stability (110KB)," Bank of England Quarterly Bulletin, Bank of England, vol. 53(4), pages 326-335.
    21. Simona Malovaná & Josef Bajzík & Dominika Ehrenbergerová & Jan Janků, 2023. "A prolonged period of low interest rates in Europe: Unintended consequences," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 526-572, April.
    22. Alfred Duncan & Charles Nolan, 2020. "Reform of the UK Financial Policy Committee," Scottish Journal of Political Economy, Scottish Economic Society, vol. 67(1), pages 1-30, February.

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