UK:
UK FPC Consultation Period On Leverage Ratio Extended
06 August 2014
Shearman & Sterling LLP
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On 22 July 2014, the Bank of England ("BoE") announced
that the Financial Policy Committee's ("FPC")
consultation period on the role of the leverage ratio within the
capital framework had been extended to 12 September 2014 (from 14
August 2014). The consultation was originally published on 11 July
2014. The FPC's final review of the leverage ratio is expected
to be published in November 2014.
Mark Carney, Governor of the BoE, confirmed in a letter to the
Chair of the Treasury Select Committee, Andrew Tyrie, that the FPC
will prepare a draft policy statement on the proposed leverage
ratio direction powers in early 2015, which will include the
FPC's views on calibration of the framework. The policy
statement should inform the review of the FPC's powers on the
leverage ratio framework.
The FPC's consultation paper is available here:
http://www.bankofengland.co.uk/financialstability/Documents/fpc/fs_cp.pdf
The BoE letter is available here:
http://www.bankofengland.co.uk/publications/Documents/news/2014/governorletter220714.pdf
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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