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

Documents

Recommendations for the Financial Policy Committee (PDF)

PDF, 117 KB, 9 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email [email protected]. Please tell us what format you need. It will help us if you say what assistive technology you use.

Recommendations for the Financial Policy Committee (HTML)

HTML

Details

The Financial Policy Committee (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 requires the government to provide the FPC with a written remit and recommendations at least once a year.

The remit specifies the government’s economic policy and provides guidance to the FPC on its objectives and functions.

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.

Published 15 November 2024