UK: the new financial regulatory framework - the role of the Financial Policy Committee

Paul Fisher, an executive director of the Bank of England, delivered a speech earlier this week in which he reflected on the role and responsibilities of the Financial Policy Committee (FPC) under the Government's new financial regulatory framework: see here (pdf). Amongst other things, Mr Fisher explained why he believed that conflict between the policies of the Monetary Policy Committee (MPC) and those of the FPC was unlikely; this did not, he added, mean that there would not be difficult choices and trade offs for each of the committees. Mr Fisher also noted that some people affected by the actions of the FPC were still not fully aware of its existence.