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Parliament committee criticises BoE policymaker Furse
March 11, 2016 / 12:41 PM / 2 years ago

Parliament committee criticises BoE policymaker Furse

LONDON (Reuters) - A British parliament committee made a rare criticism of one of the Bank of England’s policymakers, Clara Furse, for what it viewed as a sloppy approach to written evidence she gave for her reappointment hearing on Wednesday.

Chief Executive Officer London Stock Exchange Clara Furse addresses Thomson Reuters executives after opening the market at the London Stock Exchange in central London April 17, 2008. REUTERS/Dylan Martinez

Furse, who serves on the BoE’s Financial Policy Committee, did not mention the danger of a British exit from the European Union in written evidence to parliament’s Treasury Committee, a day after BoE Governor Mark Carney said this was the biggest domestic risk to financial stability.

“Dame Clara did not appear to have taken enough care with her written evidence,” Treasury committee chairman Andrew Tyrie said on Friday after the committee approved her reappointment.

“The Committee found it surprising that Dame Clara had not only omitted any reference to the financial stability risks posed by Brexit but, when asked why, appeared unable to provide a clear explanation,” he added.

Furse, a former chief executive of the London Stock Exchange, is about to start a second three-year term on the FPC.

After her first appointment hearing in 2013, the Treasury Committee criticised Furse for a potential lack of independence and her role on the board of Dutch bank Fortis when it bought part of ABN Amro during the financial crisis.

Reporting by David Milliken, editing by Andy Bruce

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