Accounting Multiple Choice Question – 28 February 2025

Which part of the Bank of England is responsible for the stability and resilience of the UK’s financial system as a whole?

Select ONE answer:

1. Financial Conduct Authority
2. Monetary Policy Committee
3. Financial Policy Committee
4. Prudential Regulation Authority

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct == > The Bank of England’s Financial Policy Committee seeks to take action to remove or reduce systemic risks in the UK financial system. Its Monetary Policy Committee aims to influence the quantity and price of money in the UK economy. The Bank of England’s Prudential Regulation Authority is part of the ‘twin peaks’ regulatory regime for the financial services industry, the other part being the Financial Conduct Authority which is independent of the Bank of England.
4. Not correct

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