The Government has held out a clear assurance that the setting up of the FSDC will not in any way erode the autonomy of the regulators. 29. In terms of governance structure, the two-tier framework of FSDC and the subcommittee presents an interesting case.
They should not address either monetary policy (as this would contravene the Treaty principles) or fiscal policy (which is taken care of by existing EU economic surveillance procedures). And third, the global dimension of the financial system and the resultant risks call for swift and comprehensive coordination between the ESRC the IMF and the FSB. Conclusion Let me conclude.