Financial risk expert joins BoE's Financial Policy Committee

This appointment fills the external position on the FPC created by the Bank of England and Financial Services Act 2016, which increased the number of external members from four to five.

Anil’s term on the FPC will begin on 1 October 2016 for a period of three years.

Anil is currently the Edward Eagle Brown Professor of Economics and Finance at the University of Chicago Booth School of Business where he teaches classes on central banking and financial crises. His research focuses monetary policy, financial intermediation and regulation and business cycles.

Prior to joining the Chicago Booth faculty in 1991, Kashyap spent three years as an economist for the Board of Governors for the Federal Reserve System. He currently works as a consultant for the Federal Reserve Bank of Chicago and as a Research Associate for the National Bureau of Economic Research.

He is a member of both the American Economic Association and American Finance Association. He graduated from the University of California at Davis in 1982 with a bachelor’s degree in economics and statistics, and he earned a PhD from the Massachusetts Institute of Technology in 1989.

The Chancellor said: "I am very pleased to announce the appointment of Professor Anil Kashyap as an external member of the Financial Policy Committee. Anil is a highly-respected academic and is widely regarded as one of the leading experts on financial risk.

"His experience and insight will play an important role over the next three years in maintaining the Financial Policy Committee’s reputation as an effective and credible macroprudential authority."