Treasury written question – answered on 22nd May 2019.

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Photo of Lord Myners Lord Myners Crossbench

To ask Her Majesty's Government whether they have modelled the systemic risk impact of growth in instructional, non bank, lending.

Photo of Lord Young of Cookham Lord Young of Cookham Lord in Waiting (HM Household) (Whip), Lords Spokesperson (Cabinet Office)

The Financial Policy Committee (FPC) of the Bank of England was set up to identify, monitor and take action to remove or reduce systemic risks with a view to protecting and enhancing the resilience of the UK financial system as part of the new financial regulatory framework legislated for under The Financial Services Act 2012. Part of the FPC’s remit includes the responsibility for assessing risks in the financial system, including from the non-bank financial system. The FPC set out its most recent assessment of financial stability risks from the non-bank financial sector in its 28th November 2018 Financial Stability Report.

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