Bank of England Levy: update on implementation
Following consultations by the Bank and HM Treasury on the implementation of the Bank of England Levy to replace the existing Cash Ratio Deposit (CRD) scheme, the Bank of England Levy (Amount of Levy Payable) Regulations 2024 (Regulations) were laid in Parliament on 22 January 2024 and are undergoing Parliamentary scrutiny.
Subject to the completion of the Parliamentary approval process, the Levy and the Regulations are due to come into force on 1 March 2024.
The Bank will provide final confirmation of the implementation date for the Bank of England Levy, and the date that the CRDs will be returned to firms on completion of the Parliamentary approval process, via a Statistical Notice.
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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.