The Bank of England has set its 2026/27 fees and levies and issued a policy statement finalising the 2026/27 financial market infrastructure supervisory fee regime. Core levies are budgeted to rise 3% to GBP 715 million, within the Bank’s CPI growth constraint, while the Bank of England Levy is set at GBP 700 million. The policy statement adopts the consultation proposals unchanged for UK and non-UK central counterparties and central securities depositories, confirms the relevant supervisory fee rates, and extends the phased recovery period for UK CCP rulebook development costs. The BoE Levy includes GBP 357 million for operational policy costs and GBP 343 million linked to the transition away from the legacy Cash Ratio Deposit funding model. That transition amount reflects a forecast GBP 307 million interest differential in 2026/27 and a GBP 36 million prior-year adjustment. Separately, the Prudential Regulation Authority Levy is set at GBP 345 million, the FMI Levy at GBP 18 million and other fees at GBP 226 million, taking total fees and levies to GBP 1.289 billion. For FMI supervision, the Bank confirmed category fee ratios of 1.75:1.00:0.33 for both UK CCPs and CSDs. Indicative charges include GBP 3.92 million for a category 1 UK CCP, including a GBP 0.58 million rulebook development instalment, GBP 2.24 million for a category 2 UK CCP, including a GBP 0.33 million instalment, and GBP 1.80 million for a category 1 CSD. Non-UK fees include GBP 149,070 for group B CCPs, GBP 44,721 for group C CCPs, GBP 9,000 for group D CCPs, GBP 119,000 for group A CSDs and GBP 6,000 for group B CSDs. The Bank also said recoverable FMI fees can include policy work that directly supports supervisory functions, and that no recovery or rebate is needed for 2025/26 because supervisory costs were in line with expectations. Invoices for the 2026/27 FMI fee year are expected before the end of August 2026. The Bank will consult separately on 2026/27 annual supervision fees for recognised payment systems and specified service providers once HM Treasury begins its consultation on increasing the statutory fee cap.
Bank of England2026-07-08
Bank of England sets 2026 and 2027 fees and levies, with GBP 700 million BoE levy and final FMI supervisory charges
The Bank of England has finalised its 2026/27 fees and levies, with core levies rising 3% to GBP 715 million and the BoE Levy set at GBP 700 million, largely reflecting the legacy Cash Ratio Deposit transition adjustment. It also confirmed FMI supervisory fees for UK and non-UK CCPs and CSDs, adopting its consultation proposals unchanged and extending the recovery period for UK CCP rulebook costs. FMI invoices are expected before the end of August 2026.