BoE consultation on FMI supervision fees 2025/26

The Bank of England (BoE) has published a consultation paper on its fees regime for financial market infrastructure (FMI) supervision for 2025/26.

The proposals cover:

• The fee rates to meet the BoE's 2025/26 funding requirement for its FMI supervisory activity and the policy activity that supports this, together with a comparison against the actual fees for the 2024/25 fee year.
• Proposed changes to the fee ratios across different categories of UK FMIs and creation of a new category 3 for UK payment systems. The UK central securities depository (CSD) fees for 2025/26 reflect activity to start scoping the work on CSDR repeal and replace.
• The BoE'9;s proposed hourly rates for special project fees for 2025/26.

The deadline for responses is 9 December and the proposed implementation date is Q4 of the 2025/26 fee year (December 2025 to February 2026), where invoices will be issued for the 2025/26 fee year. In light of feedback from firms, the BoE is exploring how it might bring forward its consultation timeline to consult on FMI fees alongside the separate consultations on the Bank Levy and PRA fees. HMT is also exploring options to increase the statutory fee cap for payment systems in future and will consult on any proposals in due course.

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