- Fees regime for financial market infrastructure supervision 2022/23
Bank of England
This Bank of England Policy Statement (PS) provides feedback to responses to the Consultation Paper (CP) ‘Fees regime for financial market infrastructure supervision 2022/23’.
the final fee rates in relation to the Bank’s 2022/23 funding requirement for its financial market infrastructure (FMI) supervisory activity and the policy activity that supports this, as permitted by the Bank’s fee？levying powers;
the outcome of the 2021/22 actual costs incurred and the impact on FMI fees charged for 2022/23, including our confirmation of the shortfall/surplus in fees for 2021/22;
the Bank’s policy on fees for payment systems in respect of which the Bank has a deference arrangement with the home authority; and the new hourly rates for the special projects fee.
The Bank confirms that it will apply a firm-specific reduction to the fees set out in Table B for payment systems where such deference arrangements the Bank has with the home authority lead to a material reduction in the Bank’s costs of supervising the firm. The amount of the reduction will be determined on a case-by-case basis, and will be communicated bilaterally to any firms concerned. For the avoidance of doubt, this provision does not give rise to an automatic entitlement to a reduction of fees for overseas-based payment systems and any such reductions will be reviewed on an ongoing basis.