On Apr. 10, UK PRA issued proposed fees and levies for 2025/26.
PRA published consultation paper with proposed rates for fees and levies 2025/26.
On the same day, PRA published its business plan for 2025 to 2026, see #250638.
Follows UK PRA Apr. 2024 issued proposed fees and levies for 2024/25, see #208123.
Proposals
Consultation relevant to firms paying PRA fees or expecting to do so in 2025/26 year.
Sets out fee rates to meet PRA's annual funding requirement (AFR); as well as introduction of cost allocation to fund PRA's activities in Future Banking Data project.
Changes to internal model application fees, model maintenance fee, Special Project Fee for restructuring, the minimum fee, new firm authorization fee of Type 3 applications.
Changes to fees rules for firms applying to cancel before the start of the fee year.
Sets out how PRA intends to allocate surplus from 2024/25 AFR and retained penalties.
PRA's AFR for 2025/26 is composed solely of the budgeted cost of ongoing regulatory activities (ORA), proposed ORA is £328.7m, decrease of £2.6m (0.8%) on last year.
Figure is provisional, may need to be revised when final estimates of costs available.
PRA's proposed total funding requirement (TFR) is £342.5m, a decrease of £10.5m (3%) from 2024/25, the TFR is composed of AFR and other fees to industry.
Effectiveness
The closing date for submission of responses to the consultation is May 9, 2025.
PRA proposes to implement the changes resulting from consultation on Jul. 2, 2025.
