BoE has published its Annual Report 2013. Within its financial stability purpose it identifies the following strategic priorities:
- Maintaining stability and improving the resilience of the financial system: this includes development of recovery and resolution regimes, implementing the operational framework for overseeing CCPs and settlement systems, and responding to the external reviews of its liquidity provision role.
- Delivering macroprudential policy, operating through the FPC: BoE will continue to develop the interface between macro and microprudential regulation, using recommendations and directions by FPC to the financial regulators.
- Integrating microprudential supervision into BoE: this includes delivering the new forward-looking, judgement-based approach to supervision, and affirming PRA's authority with PRA-authorised firms.
(Source: BoE Publishes BoE Report)