On 15 April 2019, the Bank of England (BoE) published a Consultation Paper setting out the expected financial market infrastructure (FMI) fee rates for 2019/20.

The proposed fees for 2019/20 are expected to total £8.5 million. This is a 4% increase on the 2018/19 budget which has been primarily caused by an increased focus on supervisory work relating to operational resilience over the course of the fee year.

The consultation paper also sets out the intended allocation of shortfalls and rebates from the 2018/19 fee year. The BoE expects a shortfall within the central counterparty and payment system fee-block and a rebate for the central securities depository fee-block.

The deadline for comments on the Consultation Paper is 10 June 2019.