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-Bank of England to be given greater power over housing market.

Global Banking News-January 15, 2013--Bank of England to be given greater power over housing market(C)2013 ENPublishing -

Global Banking News - 15 January 2013

The Financial Policy Committee of the Bank of England will be given additional powers to help it satisfy its mandate to protect the financial system.

Powers to be given to the bank will include forcing banks to hold more capital against mortgages with high loan to value ratios or high loan to income ratio, in case risk to financial stability is perceived by policymakers.

The new powers are expected to prevent runaway housing prices and stabilise the market in the coming year.

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Publication:Global Banking News (GBN)
Date:Jan 15, 2013
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