The Bank of England (BoE) has published a record of the Financial Policy Committee’s (FPC) meetings held on 23 and 29 November 2016. At these meetings the FPC:

  • maintained the UK countercyclical capital buffer (CCyB) rate at 0%, and reaffirmed that it expected to maintain a UK CCyB rate at 0% until at least June 2017, absent any material change in the outlook. The FPC also continued to support the supervisory expectation of the PRA that firms should not increase dividends and other distributions as a result of the UK CCyB rate being maintained at 0%; and
  • agreed to maintain without change the recommendations that it had previously made to insure against the risk of a marked loosening in underwriting standards in the owner-occupier mortgage market and a further significant risk in the number of highly indebted households. The text of the earlier recommendations are set out in the annex to the record of the meetings.

View FPC record of 23 and 29 November 2016 meetings, 6 December 2016