BoE publishes record of Financial Policy Committee meeting

BoE has published a record of its Financial Policy Committee’s Meeting on 21 June 2017. The report reveals the reasoning behind the recommendations and decisions in its Financial Stability Report no. 41. in relation to:

• Increasing the UK countercyclical capital buffer rate to 0.5%, from 0%;
• Clarifying its existing insurance measures in the mortgage market, designed to prevent excessive growth in the number of highly indebted households;
• Agreeing in principle to set the minimum leverage requirement at 3.25% of non-reserve exposures, subject to consultation; and
• The withdrawal of its cyber vulnerability testing Recommendation.