Bank of England proposes in-house oversight committee

In the wake of pressure from the Treasury Select Committee (TSC) and Joint Committee on the Draft Financial Services Bill, it said the new body, which would not include executive members of the Bank, would help to improve its accountability once it assumes greater responsibilities under the new regulatory regime. Under new powers set to legislated on this year, the Bank will be responsible for macroprudential policy and the regulation of systemically important financial infrastructure. It will also be partly responsible for the operation of the Special Resolution Regime, which will pr...