Financial Policy Committee remit
Letters from the Chancellor of the Exchequer to the Governor of the Bank of England providing the remit and recommendations for the Financial Policy Committee (FPC).
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 (as amended by the Financial Services Act 2012) 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.
Documents
Last updated 22 November 2023 + show all updates
-
Updated with: Remit and recommendations for the Financial Policy Committee: Autumn Statement 2023
-
Updated with: Remit and recommendations for the Financial Policy Committee: Autumn Statement 2022.
-
Updated with: Recommendations for the Financial Policy Committee: April 2022.
-
'Remit and recommendations for the Financial Policy Committee: Budget 2018' published.
-
Updated with Remit and recommendations for the Financial Policy Committee: Budget 2018
-
Updated with the response to the 'Remit and recommendations for the Financial Policy Committee: Budget 2017'
-
Spring Budget 2017 update published
-
added FPC remit letter for March 2016
-
Link to 'Remit and recommendations for the FPC: Budget 2016' added
-
August 2015 response letter added
-
FPC letter for Summer Budget 2015 added
-
response to 2015 remit and recommendations for the Financial Policy Committee published
-
remit and recommendations for 2015 published
-
added FPC response
-
First published.