Federal Reserve vice chairman Stanley Fischer has revealed he's a fan of the Bank of England approach to financial stability policy - with the creation of a separate committee devoted solely to it.
"The British approach of setting up nearly parallel committees for monetary policy and for macroprudential financial supervision and regulation appears to be a leading model," he said during a speech made yesterday.
The Bank of England's monetary policy committee is charged with setting interest rates in order to meet the inflation target of two per cent.
However, the financial policy committee looks out for risks to - as well as the resilience of - the UK financial system.
Macroprudential policy targets the stability of the financial system as a whole - as opposed to microprudential policy which looks after individual consumers or companies. They include caps on loan-to-value ratios, capital controls as well as other measures.
Financial stability policy has become and increasingly important post-financial crisis as a way for regulators to manage financial institutions, markets and risk they can pose to the economy as a whole.