Correspondence

Recommendations for the Financial Policy Committee: April 2022

Letter from the Chancellor of the Exchequer to the Governor of the Bank of England providing recommendations for the Financial Policy Committee (FPC) for 2021.

• From: HM Treasury and The Rt Hon Rishi Sunak MP
• Published: 7 April 2022

This was published under the 2019 to 2022 Johnson Conservative government

Documents

Recommendations for the Financial Policy Committee: April 2022

PDF, 203 KB, 6 pages

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Details

The FPC acts as the UK’s macroprudential authority. It is tasked with ensuring that emerging risks and vulnerabilities across the financial system are identified, monitored and effectively addressed.

The Bank of England Act 1998 allows the government to provide the FPC with a written recommendations. The 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.

This letter provides such recommendations. It should be read in conjunction with the remit letter sent to the Governor of the Bank of England on 3 March 2021 as the recommendations in this letter are intended to supplement rather than replace the recommendations made in the 2021 letter.

Published 7 April 2022