Date: 5 January 2018
Details of the types of levies that the Prudential Regulation Authority (‘PRA’), which is part of the Bank, can charge to cover its costs are set out in the Fees part of the PRA Rulebook.
Under PRA rules, deposit takers can be levied for management expenses (budget) and compensation costs (compensation costs and legacy costs levies) for the deposit guarantee scheme (the Financial Services Compensation Scheme (‘FSCS’)).
The rules for how these are levied are made by the PRA and can be found in the management expenses and compensation costs and legacy costs, Chapters 33-48 sections of the PRA rulebook.
Details of how much each type of levy has brought in for each financial year since the PRA was established are available below:
For the current financial year (from 1 March 2017) information is contained in the PRA Policy Statement ‘PS17/17 Regulated fees and levies: rates for 2017/18’ which was published in July 2017. See table 3.1 which is on page 9 of the document and can be viewed here.
In addition, the FSCS publishes the amount collected from these levies in their annual report and accounts which is available here.
There are other banking levies in the UK which are outside the scope of the PRA and are therefore not covered above, including those which are levied by the FCA. Information about levies and fees charged by the FCA are available here.