Bank of England - Changed responsibilities from April 2013

Members are asked to note the changes contained in the Agents' summary of business conditions and which can be found starting on page 39 of the Monthly Business Conditions Report for February 2013.

In particular the Bank will have three new operating areas:

The Prudential Regulation Authority to be created as part of the Bank (PRA)
The Financial Conduct Authority to be created as a separate body (FCA)
The Financial Policy Committee to be formalised as part of the Bank (FPC)
The Bank also gains new responsibilities for regulating financial market infrastructures (FMI)