A number of members from the financial policy committee, in a bid to protect against another crash, wanted to adopt a more strict control of lending, however were out-voted on this notion by rival policy-makers.
The divide will aggravate campaigners who were pushing for the regulator to take an active role in preventing another house price bubble.
Minutes of the financial policy committee meeting indicate that members agreed on the need to "avoid an excessively activist, fine-tuning approach in setting sectoral capital requirements" that would prevent riskier parts of the finance industry from excessive lending.
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