Four names for new Bank committee
Former US Federal Reserve vice-chairman Donald Kohn, ex-Goldman Sachs and Deutsche Bank banker Michael Cohrs, former CBI boss and monetary policymaker Sir Richard Lambert and ex-Bank executive Alastair Clark will join the FPC as external members.
The Treasury said the FPC would be required to "pursue financial stability in a balanced way". There have been some concerns that too harsh a regime will damage London's competitiveness as a financial centre. The government also proposes creating a prudential regulatory authority to oversee individual banks and insurers.