The Financial Policy Committee (FPC) met on 18 September. It noted PRA's implementation of FPC's June 2013 recommendations on liquidity, capital and vulnerability to a rise in interest rates, but made no new recommendations. It announced further work on hedge funds' leverage and exposure to interest rates, close monitoring of the housing market and mortgage underwriting standards, and future papers on the effects of monetary forward guidance on financial stability and on stress testing UK banks. It also encouraged Treasury and the regulators to continue the work on the financial system's resilience to cyber attacks. (Source: FPC Statement, 18 September 2013)