On 17 April 2026, the Prudential Regulation Authority (PRA) published proposals for its fees for 2026/27.

Summary

The PRA’s proposals include:

  • The fees rates to meet the PRA’s 2026/27 Annual Funding Requirement (AFR): The Financial Conduct Authority (FCA) provides a facility on its website to enable firms to calculate their periodic fees for the forthcoming year based on the proposed PRA consultative rates.
  • An increase to the cost allocation to fund the PRA’s activities in the Future Banking Data (FBD) programme: The FBD cost has increased by £3.6million from 2025/26, reflecting the launch and subsequent development of the firm facing portal to include enhancements and additional authorisation applications, investigating the feasibility of a solution for UK mortgage data collection, and the identification of further proposed deletions and prioritisation of wider reforms to reduce firm reporting burden. No changes are proposed to the population of firms subject to this fee for the 2026/27 financial year.
  • Changes to internal model application fees, the model maintenance fee, the Special Project Fee for restructuring and the new firm authorisation fee for Type 1 (friendly societies and credit unions) and 3 applications (banks, building societies and insurance firms): The PRA is proposing to increase the internal model application fees in line with CPI inflation in the year to December 2025 and rounded to the nearest £2,500; the PRA also proposes to increase the model maintenance fee and special project fee in line with CPI inflation; for 2026/27 the PRA proposes to lower the fee charged to Type 1 applications from prospective friendly societies and credit unions to £0.
  • Introducing a new internal model application and model maintenance fee for Securities Financing Transactions Value-at-Risk (SFT VaR): The PRA is proposing to introduce a new internal model application fee and model maintenance fee for SFT VaR to also come into effect from the Basel 3.1 implementation date of 1 January 2027, both fees are scaled initially at half that of the Internal Model Method fees to reflect the lower complexity in the PRA’s processing of these applications.
  • Setting out how the PRA intends to allocate the surplus from the 2025/26 AFR: In the PRA’s 2025/26 fee year, there was a surplus of £2.0 million. This is an estimate subject to auditing and therefore subject to change, with the final figure to be confirmed when the final policy is published. The PRA proposes to refund the difference between fees collected and actual spend in relation to the 2025/26 financial year. The amount of the FBD cost allocation to be refunded to fee payers is estimated to be £0.5 million. This is a draft, unaudited figure and therefore subject to change, with the final figure to be confirmed when the final policy is published.
  • The retained penalties for 2025/26: In 2025/26, enforcement activity by the PRA resulted in fines and penalties of £1.9 million, of which £1.5 million is included into the calculation of the £2.0 million retained surplus from 2025/26. The remainder is remitted to HMT.