238 UK financial stability
Banking Act 2009 (2009 c 1) | Legislation

Bank of England

238  UK financial stability

(1)     After section 2 of the Bank of England Act 1998 (functions of court of directors) insert—

“2A Financial Stability Objective

(1)     An objective of the Bank shall be to contribute to protecting and enhancing the stability of the financial systems of the United Kingdom (the “Financial Stability Objective”).

(2)     In pursuing the Financial Stability Objective the Bank shall aim to work with other relevant bodies (including the Treasury and the Financial Services Authority).

(3)     The court of directors shall, consulting the Treasury, determine and review the Bank's strategy in relation to the Financial Stability Objective.

2B Financial Stability Committee

(1)     There shall be a sub-committee of the court of directors

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