Tuesday 20 December 2016

UK: The Bank of England Act 1998 (Macro-prudential Measures) Order 2016

The Bank of England Act 1998 (Macro-prudential Measures) Order 2016 was made last week: see here (pdf). An explanatory memorandum is available here (pdf). The Order confers on the Financial Policy Committee the power to give directions to the Prudential Regulation Authority and Financial Conduct Authority to take action concerning loan-to-value ratios and interest coverage ratios for buy-to-let mortgages.

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