Appointment of new member of the Financial Policy Committee scrutinised by Treasury Committee
The Treasury Committee will hold a hearing scrutinising the appointment of Nathanaël Benjamin as a member of the Financial Policy Committee (FPC) at the Bank of England.
Meeting details
The Bank announced the appointment of Nathanaël Benjamin as Executive Director for Financial Stability Strategy and Risk in November, replacing Sarah Breeden. During the hearing, MPs will assess whether Mr Benjamin has the required personal independence and appropriate professional competence for the role.
The FPC leads the Bank of England’s work in managing the UK’s financial stability by identifying threats to economic resilience. The FPC also has a secondary objective to support the economic policy of the Government.
The FPC has twelve voting members with meetings usually chaired by the Governor of the Bank of England. Six of its members are Bank staff, including the Deputy Governors, while the Chief Executive of the Financial Conduct Authority and five external appointments make up the remaining members.
The Treasury Committee will produce a short report in the days following the session.