The Bank of England’s fees regime for financial market infrastructure supervision 2023/24

The Bank of England (BoE) has launched a public consultation on its proposed fees and levies for the supervision of financial market infrastructures (FMIs) in 2023/24. FMIs include (incoming) central counterparties (CCPs), (incoming) central securities depositories (CSDs), payment systems and certain payment service providers.
The proposal includes
(1) the regular levy rates that will be based on the Bank’s funding needs (£13.8 million) for its supervisory activities and which will be allocated among FMIs based upon the FMI type and category as indicated below (excluding incoming CCPs and CSDs):
Graphic 1: 2023/2024 Fee Allocation

(2) the special project fees (£0.18 million) which are based upon expenses that the Bank actually expects to incur due to additional activities required in the framework of a particular project with FMIs. This fee will only be charged to these FMIs which have already been contacted on this matter.
(3) the hourly rates for projects on demand which have not changed from the previous year and still are as follows:
Graphic 2: 2023/2024 Hourly Project Fee Rates

The proposed rates for incoming CCPs and CSDs may be found in the consultation paper. Comments may be submitted to the Bank up to September 21, 2023.