BOE: Financial stability risk is broadly unchanged

The latest meeting minutes from the BOE's FPC (Financial Policy Committee)

  • Financial stability risk is broadly unchanged since the November meeting

  • The policy uncertainty is high in a number of countries

  • Will launch a review into quality of new consumer lending

  • UK household indebtedness remains high by historical standards and has begun to rise relative to incomes

  • Consumer credit has been growing particularly rapidly

  • Will assess the financial stability implications of firms' plans to adapt to the United Kingdom's withdrawal from the European Union

  • Will oversee banks contingency plans to handle a range of possibilities arising from Brexit talks

  • Want to avoid any spillovers from any sudden adjustments to banks business models

  • 2017 stress tests will test short-term and long-term, scenarios

Full minutes are here.

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