The purpose of this consultation paper is to seek views on the proposed fee for applications for non-UK CCPs seeking UK recognition both before and after the UK’s withdrawal from the EU. The consultation paper sets out the proposed fee, notes the powers that the Bank intends to use to levy fees and highlights key aspects regarding the implementation of the approach. This consultation is intended to provide clarity on the Bank’s expected application fee for applications for UK recognition both before and after the UK’s withdrawal from the EU. There will be no fee for entry into the Temporary Recognition Regime which allows eligible non-UK CCPs, for which recognition decisions have not been made, to continue providing clearing services in the UK for a limited period after the UK’s withdrawal from the EU. The Bank will consider the feedback received, with a view to any arrangements commencing in Q1 2019 if the Bank decides to levy fees on non-UK CCPs applying to the Bank for recognition.
This consultation closed on 2 January 2019. The Bank welcomes feedback on all aspects of the proposal. Please address any comments or enquiries to FMIFeedback@bankofengland.co.uk.