In the UK financial sector, if there is a growing concern about systemic risk arising from excessive credit growth in the housing market, which regulatory body has the primary authority to implement macroprudential policies—such as adjusting the counter-cyclical capital buffer—to safeguard the stability of the financial system as a whole?
The Monetary Policy Committee (MPC)
The Financial Conduct Authority (FCA)
The Prudential Regulation Authority (PRA)
The Financial Policy Committee (FPC)
