On 9 October 2025, the Bank of England (BoE) issued a consultation paper setting out its proposed fees regime for financial market infrastructure (FMI) supervision 2025/26.

In the consultation paper the BoE has set out a table (Table A) which sets out the expected charge for each category of FMI. A further table (Table B) sets out fee ratio across UK FMI categories. The ratio for allocating fees between the different categories of UK FMIs in the 2025/26 fee year remains the same as for the 2024/25 fee year. The BoE proposes the introduction of a new Category 3 ratio for UK payment systems and a change to the fee ratios across all FMI types to support new entrants and encourage innovation. The BoE is consulting on the proposed changes this year with a plan to adopt them at an appropriate point so that firms can benefit from the advance notice and plan accordingly.

Next steps

The deadline for comments on the consultation paper is 9 December 2025.

The proposed implementation date for the proposals contained in the consultation paper is Q4 of the 2025/26 fee year (December 2025 to February 2026), where invoices will be issued by the BoE for the 2025/26 fee year.