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On the Record

Financial Policy Committee at the Bank of England

Donald Kohn, Robert S. Kerr senior fellow in economic studies at the Brookings Institution, delivered remarks at the Board of Governors of the Federal Reserve System on the “Financial Policy Committee (FPC) at the Bank of England.”

Kohn, who now serves on the FPC, is a 40-year veteran of the Federal Reserve System and served on the Board of Governors of the Federal Reserve from 2002 to 2010, the last four years as vice chairman. He described the regulatory structure adopted by the UK after the recent financial crisis, focusing on the responsibilities and authorities of the FPC, its interactions with the institutions responsible for microprudential and monetary policies, and the actions the FPC had taken to enhance the resilience of the UK financial system.

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