Q&A: Alastair Clark on the challenges facing the Bank of England's FPC

The Bank of England’s new macro-prudential regulatory body has met a grand total of four times and currently has no actual power – but it is already stepping on toes and starting debates. One of the Financial Policy Committee’s four external members, Alastair Clark, talks to Duncan Wood about its growing pains

Alastair Clark

It is the kind of decision that would give a supervisor sleepless nights: faced with a boom in mortgage lending to lower-income borrowers, should the market be shut down? On the one hand, products with a high loan-to-value (LTV) ratio are risky, giving a bank little security. On the other, home ownership can be a way for poorer families to climb the wealth ladder – introducing a political and social angle to what might otherwise be a prudential debate.

The UK’s embryonic macro-prudential

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

ESRB narrows its macro-prudential tools

The European Systemic Risk Board is about to announce a slimmed-down list of potential macro-prudential tools, but who has the power to use them is still the subject of debate. By Michael Watt

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here