On 14 January 2026, the Financial Conduct Authority (FCA) published Consultation Paper 26/3: Retail Banking Business Models data (CP26/3).

Proposals

In CP26/3 there are proposals to require certain retail banks and building societies to send to the FCA an annual regulatory reporting return with information on their business models. This will replace a series of ad hoc requests for the data. Firms that meet the FCA’s reporting thresholds will provide this data annually. The annual submission will give the FCA an up-to-date view of the size and composition of individual firms and the wider retail banking market.

The FCA wishes to replace the ad hoc collection of Retail Banking Business Models (R2B2) data with an annual regulatory return. Firms will supply product and sub-product level financial and volumetric information on residential mortgages, personal banking, personal lending, small business banking and lending, other business banking and lending and wholesale funding. Firms will also provide whole bank reconciliation data. This includes operating costs relating to their business and profit and loss, balance sheet and capital ratio data. The FCA will also include an ‘off-the-shelf’ request for firms to provide various readily available business documents. These will give the regulator valuable qualitative background to the quantitative data, so it can make well-informed decisions.

Threshold

The reporting requirements will apply to banks and building societies offering retail banking services that have more than 200,000 UK customer relationships and revenue of £5m in the relevant periods. Firms that do not meet the thresholds will not have to send the FCA the data. At present, the FCA expects 33 retail banks and building societies to meet the threshold conditions for its proposed collection.

Next steps

The deadline for comments on CP26/3 is 4 March 2026.

The FCA expects to publish final rules later this year.