BoE's Tucker: FPC capital powers 'won't be popular'

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Borrowers could be lumbered with additional costs if the Bank of England's (BoE) new financial policy committee (FPC) is given powers to adjust sector-specific capital requirements for banks, according to attendees at the annual meeting of the Association of Corporate Treasurers (ACT) yesterday.

The FPC is yet to be given any statutory powers by the UK parliament but the interim committee met on March 16 to request authority over a number of micro-prudential tools. The committee's mission is to