UK PRA consults on regulated fees and levies for 2026/27

The UK Prudential Regulation Authority (PRA) has published consultation paper CP7/26, setting out proposed regulated fees and levies for 2026/27. The PRA proposes a total funding requirement of GBP346.6 million, a 1% decrease from 2025/26, which includes an annual funding requirement (AFR) of GBP329.3m. The AFR is the budgeted cost of ongoing regulatory activities and a 7% decrease from 2025/26, but may need to be revised when final estimates for costs are available.

The proposals include fee rates to meet the AFR; an increased cost allocation for the Future Banking Data programme; inflation-linked increases to internal model application, model maintenance and restructuring project fees; and changes to new firm authorisation fees. The PRA also sets out its proposed approach to allocating an estimated GBP2m surplus from 2025/26. The deadline for comments is 15 May. The PRA proposes to implement the changes from 13 July, except for the new internal model application fee and the model maintenance fee for calculating exposure values for securities financing transactions under the value-at-risk approach. This would take effect from the Basel 3.1 implementation date of 1 January 2027.

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