UK PRA proposed fees for 2025/26

The Prudential Regulation Authority (PRA) has published a consultation setting out proposals for its fees for 2025/26. The proposals would make amendments to the Fees Part of the PRA Rulebook (Appendix) and include: (i) the fee rates to meet the PRA's 2025/26 Annual Funding Requirement (AFR); (ii) the introduction of a cost allocation to fund the PRA's activities in the Future Banking Data project; (iii) changes to internal model application fees, the model maintenance fee, the Special Project Fee for restructuring, the minimum fee and the new firm authorisation fee for Type 3 applications; (iv) changes to the fees rules for firms applying to cancel before the start of the fee year; (v) how the PRA intends to allocate the surplus from the 2024/25 AFR (Chapter 3); and (vi) the retained penalties for 2024/25 (Chapter 4). The PRA's proposed Total Funding Requirement for 2025/26 is £342.5 million, a decrease of £10.5 million (3%) from 2024/25 (£353.0 million). This consultation closes on 9 May.

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