Fees regime for the supervision of financial market infrastructure (FMI) - September 2020

This Bank of England (Bank) Policy Statement (PS) provides feedback to responses to the Consultation Paper (CP) ‘Fees regime for financial market infrastructure supervision 2020/21 and other related policy changes’. The PS covers:

• the final fee rates to meet the Bank’s 2020/21 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;
• how the Bank will apportion the surplus from the 2019/20 FMI fee year; and
• amendments to the Special Project Fee (SPF) invoicing process and the SPF hourly rate to be charged, where applicable. This section should be read in conjunction with the ‘Fees regime for the supervision of financial market infrastructure (FMI) Policy Statement June 2018’.

The PS is relevant to all firms currently paying FMI fees or expecting to do so within the 2020/21 fee year.

Summary of responses

The Bank received four responses to the CP which has not resulted in any changes being made to the proposals. Details on the responses received can be found in Chapter two of this PS.

Next steps

The Bank expects to issue invoices in October 2020 for the 2020/21 fee year. Invoices will include any rebate from the 2019/20 fee year.

Fees regime for the supervision of financial market infrastructure (FMI)