The Bank of England published its Financial Stability Report, and, along with it the decision of its Financial Policy Committee to raise the counter-cyclical capital buffer from 0 to 0.5%. Interestingly, there is also an announced plan to raise this further in November to 1%, on the presumption that the economy, and along with it financial stability risks, evolve as FPC expect them to. So the FPC has agreed and disclosed an instrument plan for its macro-prudential instrument.