The Prudential Regulation Authority (PRA) published a consultation proposing amendments to the Fees Part of the PRA Rulebook for the 2026/27 fee year, including periodic fee rates and other charges to meet a Total Funding Requirement of GBP 346.6 million, down from GBP 350.2 million in 2025/26. The Annual Funding Requirement would be GBP 329.3 million for ongoing regulatory activities, a provisional budget that may be revised when final cost estimates, including pension costs, are available. Key changes include lifting the Future Banking Data (FBD) cost allocation to GBP 6.8 million from GBP 3.2 million while keeping the population of firms subject to the fee unchanged, and increasing internal model application fees, the model maintenance fee and restructuring special project fee hourly rates in line with CPI inflation to December 2025 (rounded to the nearest GBP 2,500 for model-related fees). The PRA also proposes to cut the Type 1 new firm authorisation application fee for prospective friendly societies and credit unions to GBP 0 (from GBP 1,500) and to raise the standard Type 3 authorisation fee for other prospective deposit takers and insurers to GBP 28,150 (from GBP 27,870), and to introduce new internal model application and maintenance fees for Securities Financing Transactions Value-at-Risk (SFT VaR) from 1 January 2027, scaled initially at half of the Internal Model Method fees. The consultation further outlines how an estimated GBP 2.0 million surplus from 2025/26 would be allocated across fee blocks (excluding the A0 minimum fee block), including GBP 1.5 million of retained penalties within total enforcement fines and penalties of GBP 1.9 million, and proposes a refund of an estimated GBP 0.5 million relating to the 2025/26 FBD cost allocation. Responses are due by 15 May 2026. The PRA proposes to implement most changes on 13 July 2026, with the SFT VaR-related changes planned for 1 January 2027; the 2026/27 fee year runs from 1 March 2026 to 28 February 2027.
Prudential Regulation Authority 2026-04-17
Prudential Regulation Authority consults on 2026/27 fees with lower GBP 346.6 million total funding requirement and higher Future Banking Data allocation
The Prudential Regulation Authority is consulting on amendments to the Fees Part of its Rulebook for the 2026/27 fee year to meet a Total Funding Requirement of GBP 346.6 million, including an Annual Funding Requirement of GBP 329.3 million. Proposals include increasing the Future Banking Data cost allocation to GBP 6.8 million, uprating internal model and restructuring fees with inflation, setting the Type 1 authorisation fee for friendly societies and credit unions to GBP 0, raising the standard Type 3 authorisation fee to GBP 28,150, and introducing new Securities Financing Transactions Value-at-Risk internal model fees from 1 January 2027.