Bank of England Seeks Feedback on Supervisory Fees for Payment Systems

The Bank of England is seeking feedback on its proposals for supervisory fees for recognised payment systems and specified service providers in 2026/27. The proposed fee rates aim to meet the bank's funding requirement for its financial market infrastructure (FMI) supervisory activity.

The current supervision fee cap for recognised payment systems and specified service providers is £760,000 per year, as mandated by the 2018 Regulations. However, this cap has not been adjusted since 2018, despite inflationary cost pressures and increased focus on operational resilience supervision.

As a result, the bank's actual costs of payments supervision now exceed the existing cap. The proposed fee rates take into account these increasing costs, including inflationary pressures and additional supervisory requirements.