On 31 July 2019, the Bank of England (BoE) published a policy statement on the fees regime for the supervision of financial market infrastructure (FMI). The policy statement provides feedback to responses from an earlier consultation paper published in April 2019 on the 2019/20 fees regime for FMI supervision. The policy statement also sets out:
- the final fee rates to meet the BoE’s 2019/20 funding requirement for its FMI supervisory activity and the policy activity that supports this;
- how the BoE will apportion the surplus and shortfalls from the 2018/19 FMI fee year;
- the fee for non‑UK central securities depository (CSD) recognition; and
- the confirmation of a change to the fee regime for certain central counterparty (CCP) and CSD authorisation applications. The BoE advises that this should be read in conjunction with the ‘Fees regime for the supervision of FMI Policy Statement June 2018’.
Invoices are expected to be issued in August for the 2019/20 fee year. Invoices will include any rebate or shortfall from the 2018/19 fee year.