(1) The Financial Policy Committee must prepare and publish reports relating to financial stability ("financial stability reports").

(2) Two financial stability reports must be published in each calendar year.

(3) A financial stability report must include -

(a) the Committee's view of the stability of the UK financial system at the time when the report is prepared,

(b) an assessment of the developments that have influenced the current position,

(c) an assessment of the strengths and weaknesses of the UK financial system,

(d) an assessment of risks to the stability of the UK financial system, and

(e) the Committee's view of the outlook for the stability of the UK financial system.

(4) A financial stability report must also include -

(a) a summary of the activities of the Committee in the reporting period, and