The study of functional networks in the brain is essential in order to gain a better insight into its diverse set of operations and to characterise the associated normal and abnormal behaviours. Present methods of analysing fMRI data to obtain functional connectivity are largely limited to approaches such as correlation, regression and independent component analysis, which give simple point estimates. By contrast, we propose a stochastic linear model in a Bayesian setting and employ Markov Chain Monte Carlo methods to approximate posterior distributions of full connectivity and covariance matrices. Through the use of a Bayesian probabilistic framework, distributional estimates of the linkage strengths are obtained as opposed to point estima...