JACKSON HOLE Wyo. (Reuters) - There are potential “coordination issues” between the Bank of England’s (BoE) new financial stability committee and other bank functions, a senior BoE official said on Saturday, adding that these issues can be resolved.
“There is not a first-mover advantage to any of the bodies. They meet pretty regularly and share three members,” Bank of England Deputy Governor Ben Broadbent said at the Federal Reserve’s annual central banking conference here.
Bank of England Governor Mark Carney announced in late June a major reorganization of the central bank, which included a newly empowered financial stability division. The move was meant to help contain risks from the housing market.
Broadbent on Saturday said the new financial stability goals at the central bank were not in conflict with its inflation and growth goals.
Reporting by Howard Schneider; Additional reporting by Michael Flaherty; Editing by Paul Simao