On 16 September 2020, the Bank of England (BoE) published a Policy Statement ‘Fees regime for the supervision of financial market infrastructure (FMI)’.
In the Policy Statement the BoE sets out:
- The final fee rates to meet the Bank’s 2020/21 funding requirement for FMI supervisory activity and the policy activity that supports this, as permitted by the BoE’s fee levying powers.
- How the BoE will apportion the surplus from the 2019/20 FMI fee year.
- Amendments to the Special Project Fee (SPF) invoicing process and the SPF hourly rate to be charged, where applicable. This section should be read in conjunction with the ‘Fees regime for the supervision of financial market infrastructure (FMI) Policy Statement June 2018’.