United Kingdom (and EU regulation)

Bank of England Act 1998 (Macro-prudential Measures) Order 2016 published

By Simon Lovegrove (UK) and Matthew Gregory (UK) on December 20, 2016 Posted in Mortgages, United Kingdom

There has been published on the legislation.gov.uk website, The Bank of England Act 1998 (Macro-prudential Measures) Order 2016. The Order confers on the Financial Policy Committee (FPC), the UK’s macro-prudential authority, powers to direct the PRA and FCA to take action with respect to loan-to-value (LTV) ratios and interest coverage ratios (ICRs) for buy-to-let mortgages. The FPC will be able to limit the proportion of new mortgages extended at LTV ratios above or ICRs below a level specified by the FPC.

View Bank of England Act 1998 (Macro-prudential Measures) Order 2016, 16 December 2016