BoE final policy on the fees regime for FMI supervision 2025/26

The Bank of England (BoE) has published its policy statement confirming the fees regime for financial market infrastructure (FMI) supervision for the 2025/26 fee year, following its October 2025 consultation. The BoE confirms that it will adopt the proposals set out in the consultation paper, including:

• Maintaining existing fee ratios across FMI categories and introducing a new Category 3 for UK payment systems, to align with other FMI types where this categorisation already exists. The BoE will provide further detail on the timing for applying the new fee ratios and implementing Category 3 in the 2026/27 FMI fees consultation paper, which is expected in April (rather than October as in previous years), following stakeholder feedback requesting earlier consultations on future annual fees. This approach will be maintained going forward.
• Increasing certain fees, notably for central counterparties (CCPs) and central securities depositories, to reflect expanded policy and rule‑making responsibilities under the Financial Services and Markets Act 2023, and to recover one‑off costs associated with developing the UK CCP rulebook over a three‑year period.

The BoE also confirms updated hourly rates for special supervisory projects, the treatment of under‑ or overspends from the 2024/25 fee year, and that enforcement fine revenues cannot be used to offset supervisory costs. It also confirms that HM Treasury are 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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