Thursday also saw the FPC formally recommend that it receive the legal power to cap how big a mortgage Britons can receive relative to their income and the value of their home.
Finance minister George Osborne said in June that he was willing to give the BoE this type of power, and on Monday he said that he wanted to get them into law before the election.
The BoE's Financial Policy Committee can already recommend loan-to-value and loan-to-income caps on mortgages, and in June it urged banks to issue no more than 15 percent of mortgages at loan-to-income ratios above 4.5 times a borrower's income.
On Thursday it said specifically that it wanted its powers to apply to both residential and buy-to-let mortgages. For residential mortgages, it wants to be able to cap debt-to-income ratios - limiting how much banks can lend, taking into account all a borrower's debts and not just their mortgage.
For buy-to-let mortgages - which make up 12 percent of new lending - it will apply an 'interest coverage ratio' to ensure that rental income from the property is comfortably higher than interest payments. Easy access to buy-to-let mortgages for professional investors has been blamed by critics for making it harder for others to buy their own homes.
When the FPC gained its first set of legal powers in April 2013, it was deemed too politically sensitive for the central bank to have the final say on mortgage lending practices.
Read MoreIs this the world's most expensive apartment?
Since then, BoE Governor Mark Carney has described a further big build-up in mortgage debt - which is already at a high level - as the greatest single threat to a sustainable recovery.
However, housing market activity has shown signs of cooling, in the wake of June's measures and separate steps by another regulator, the Financial Conduct Authority, to require lenders to apply tougher affordability rules when issuing mortgages.
The FPC said that the housing market remained a risk, despite signs of slowing activity and a recovery in the commercial property market.
The FPC also said it would propose a numerical figure for how much banks can lend relative to their capital by the end of this month. Previously the FPC had said it would only give a broad framework for the leverage ratio.
In addition, it said that British-based banks with exposure to Norway or Sweden would have to abide by those countries' recent requirement for them to hold an extra buffer of 1 percent of capital to protect against swings in the economy.
Follow us on Twitter: @CNBCWorld