Bank of England's FPC seeks to unlock Basel III tool-kit

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The Bank of England's (BoE) recently created Financial Policy Committee (FPC) says it needs extended powers to do its job as macro-prudential watchdog, including the use of micro-prudential regulations that will be introduced by Basel III and other strands of post-crisis reform.

The Financial Policy Committee, chaired by Mervyn King, governor of the Bank of England, was founded following a June 2010 speech by George Osborne, the UK's chancellor of the exchequer, which laid out the country's new