On 28 January 2025, HM Treasury (HMT) published a letter from the Bank of England (BoE) responding to the November 2024 remit letter for the Financial Policy Committee (FPC).

The letter provides the FPC’s response to HMT’s recommendations to it for 2024/25, highlighting in particular its work to support financial stability and to address systemic risks to the resilience of the UK financial system.

Topics addressed in the response include geopolitical risks, non-financial risks (including cyber and operational risks, and emerging technologies), risks from the non-bank financial sector, and climate change and nature.