On 5 December 2025, the Bank of England (BoE) published a Statement of Policy (SoP) in relation to its review of rules and Supervisory Statements (rule review) as part of its approach to policymaking for financial market infrastructures (FMIs).
Overview
The BoE explains that the rule review is part of the BoE’s approach to policymaking for FMIs and sets out its approach to rule review in this SoP.
In particular, the BoE sets out certain key points including:
- Framework for undertaking rule reviews: The BoE explains that the framework consists of four key activities covering monitoring, selection of rules, choice of methods, execution and follow up decisions.
- How stakeholders can engage with the BoE on rule reviews, and how the BoE will consider their representations: As well as existing methods, the BoE created a new channel for stakeholders to make representations to the BoE on rule reviews, which includes a dedicated rule review email address.
- How the BoE communicates its rule review work to the public: The BoE may choose to publish the outcomes of some of its reviews on a case-by-case basis and may use a range of publication types,such as consultation papers, policy statements, annual reports and other public statements.
- How the BoE intends to co-ordinate with other public bodies on rule reviews covering areas of shared responsibility: The BoE contributes to and supports rule reviews conducted by international bodies, such as the Committee on Payments and Market Infrastructures, the International Organisation of Securities Commissions, and the Financial Stability Board. In addition, the BoE also shares responsibility with other regulators including the Prudential Regulation Authority and the Financial Conduct Authority, and the BoE will work with these regulators on relevant rule reviews.
Next steps
The BoE has asked for feedback before 4 September 2026.