Bank of England Levy: confirmation of implementation
The Bank of England Levy (Amount of Levy Payable) Regulations 2024 (Regulations) were laid in Parliament on 22 January 2024 and were approved by the House of Commons and the House of Lords on the 20 February and 27 February, respectively. The regulations are being progressed through the final stages of the Parliamentary approval process and is expected to come into force from the 1 March.
The Bank is preparing to return Cash Ratio Deposits (CRD) to eligible institutions and it is intended that the CRDs will be returned on the 5 March.
The Bank shall issue a further Statistical Notice before the 1 March if the information above in any way changes.
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A summary of all Statistical Notice items that are yet to come into effect are also available to view on the Statistical notices page. Statistical Notices should be received by all those responsible for the completion of Bank of England returns. To amend the circulation list please subscribe.