Appointment of Dr Donald Kohn to the interim Financial Policy Committee

Download or read book Appointment of Dr Donald Kohn to the interim Financial Policy Committee written by Great Britain: Parliament: House of Commons: Treasury Committee and published by The Stationery Office. This book was released on 2011-05-23 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: On its formation, the Financial Policy Committee (FPC) will be a Committee of theCourt of the Bank of England. It is an integral part of the Government's reform plans for financial regulation. Before the passage of legislation creating the FPC is complete, an interim FPC will be formed. External members of the interim FPC will have an important role in achieving HM Treasury's goals for the interim FPC. Dr Kohn has past experience of Central Banking, having been on the Federal Reserve System Board of Governors since 2002 (holding the vice-chair from 2006 to 2010). The Committee took evidence from Dr Kohn and was impressed by his frankness and rigour regarding the lessons he had learnt from the financial crisis and believe that this may enable him to make a particularly valuable contribution in the role. The Committee is satisfied that Dr Donald Kohn has the professional competence and personal independence to be an external member of the interim Financial Policy Committee.