Within the UK financial system, which of the following is the primary responsibility of the Financial Policy Committee (FPC\text{FPC}FPC)?
Identifying, monitoring, and taking action to mitigate systemic risks to ensure the stability and resilience of the financial system as a whole.
Supervising individual financial institutions, such as commercial banks and insurers, to ensure they maintain adequate capital and liquidity.
Regulating the conduct of financial services firms to ensure fair competition, consumer protection, and integrity in financial markets.
Determining monetary policy, specifically setting the Bank Rate and managing quantitative easing to meet the government's inflation target.
