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999767
registered interest false more like this
date less than 2018-11-01more like thismore than 2018-11-01
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Credit more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government what representations they have made to the Financial Policy Committee of the Bank of England regarding the case for (1) stress testing the capacity for open ended credit funds to withstand a credit shock, and (2) a review of the options available in the event of a significant decline in market liquidity. more like this
tabling member printed
Lord Myners more like this
uin HL11212 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2018-11-14more like thismore than 2018-11-14
answer text <p>The Financial Policy Committee (FPC) is an independent body responsible for monitoring and taking action to remove systemic risks to the financial system. The Chancellor sets a remit for the Committee each year related to its objectives. On 29 October the Chancellor set out the latest remit in a letter to the Governor of the Bank of England. Alongside the Prudential Regulation Committee (PRC), the FPC introduced an annual stress test of the largest UK banks and building societies in 2014. The FPC will conduct a comprehensive resilience assessment as part of the 2018 stress test at its meeting on 28 November. The Government supports the use of stress tests as a tool to ensure the ongoing resilience of the financial system.</p> more like this
answering member printed Lord Bates more like this
question first answered
less than 2018-11-14T16:51:35.86Zmore like thismore than 2018-11-14T16:51:35.86Z
answering member
1091
label Biography information for Lord Bates more like this
tabling member
3869
label Biography information for Lord Myners more like this