The has been published on the legislation.gov.uk website the following statutory instruments relating to new macro-prudential powers for the Financial Policy Committee (FPC):
- the Bank of England Act 1998 (Macro-prudential Measures) Order 2015 together with an explanatory memorandum and impact assessment. This Order allows the FPC to make directions on the owner-occupied mortgage markets relating to loan-to-value ratios and debt-to-income ratios; and
- the Bank of England Act 1998 (Macro-prudential Measures) (No. 2) Order 2015 together with an explanatory memorandum and impact assessment. This Order enables the FPC to set maximum ratios of total unweighted liabilities to capital and to vary those ratios over time.
With the exception of Article 4(1)(b) of the Bank of England Act 1998 (Macro-prudential Measures) (No. 2) Order 2015, relating to the systemic risk buffer institution additional leverage buffer, which will come into force on 1 January 2019, the Orders will come into force on 6 April 2015.
View The Bank of England Act 1998 (Macro-prudential Measures) Order 2015, 26 March 2015
View The Bank of England Act 1998 (Macro-prudential Measures) (No.2) Order 2015, 26 March 2015
