The Bank of England (BoE) has published the record of the Financial Policy Committee’s (FPC) meeting held on 23 March 2016.
The record summarises the progress made on implementing the FPC’s recommendations and directions since its previous meeting.
Among other things, the record states that the FPC:
- does not consider that any further action is necessary for macro-prudential purposes relating to the buy-to-let market apart from finalising the PRA supervisory statement on underwriting standards for buy-to-let mortgage contracts. The PRA consulted on a draft version of this supervisory statement in March 2016. The FPC will continue to closely monitor developments in the buy-to-let mortgage market.
- will receive an update on its work programme on UK Authorities’ and firms’ cyber-resilience by summer 2016.
The next meeting of the FPC will be held on 28 June 2016 and the formal record of that meeting will be published on 12 July 2016.