Correspondence

Remit and recommendations for the Financial Policy Committee: November 2024

Letter from the Chancellor of the Exchequer to the Governor of the Bank of England providing recommendations for the Financial Policy Committee (FPC).

From:
HM Treasury and The Rt Hon Rachel Reeves MP
Published
15 November 2024
Last updated
27 January 2025 — See all updates

Documents

Recommendations for the Financial Policy Committee (PDF)

PDF, 117 KB, 9 pages

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Recommendations for the Financial Policy Committee (HTML)

HTML

Response from the Financial Policy Committee (PDF)

PDF, 218 KB, 14 pages

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Details

The documentFinancial comprisesPolicy Committee (FPC) acts as the annualUK’s remitmacroprudential authority. It is tasked with ensuring that emerging risks and recommendationsvulnerabilities foracross the financial system are identified, monitored and effectively addressed.

The Bank of England’sEngland FinancialAct Policy1998 Committee,requires the government to provide the FPC with a written remit and recommendations at least once a coveringyear.

The letterremit fromspecifies the Chancellorgovernment’s economic policy and provides guidance to the GovernorFPC thaton providesits additionalobjectives contextand /functions.

The background.FPC is required to respond to the government, setting out any action it has taken or intends to take in response to a specific recommendation and, if appropriate, any reasons why it does not intend to act on a recommendation.

Updates to this page

Published 15 November 2024
Last updated 27 January 2025 + show all updates

  1. Response from the Financial Policy Committee added.

  2. First published.

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