1.HM Treasury announced the re-appointment of Sir Jon Cunliffe as Deputy Governor for Financial Stability at the Bank of England on 11 September 2018. His re-appointment will be effective from 1 November for a period of five years. As part of this role, Sir Jon sits on the Monetary Policy Committee (MPC), the Financial Policy Committee (FPC), the Prudential Regulation Committee(PRC) and the Court of the Bank of England.
2.In this Report, the Committee has considered the suitability of Sir Jon for this role against the following criteria—personal independence and professional competence—in line with the practice of previous Treasury Committees when considering appointments to the Bank of England’s Policy Committees. But Sir Jon’s responsibilities as Deputy Governor range wider than just these policy committee roles. The Committee has examined some of those other responsibilities as well.
3.The Committee took oral evidence from Sir Jon on 17 October 2018. He provided a full CV and answered a written questionnaire prior to giving oral evidence. The Committee would like to thank Sir Jon for this evidence, which has been published on the Treasury Committee website.
1 HM Treasury, , 11 September 2018
2 Bank of England, , accessed 12 October 2018
Published: 18 October 2018