Bank of England confirms FMI supervisory fees for CCPs and CSDs: invoices due by end of August
Routine confirmation: the Bank adopted its consultation proposals unchanged. If you operate or are supervised as a CCP or CSD, expect your invoice before the end of August 2026.
Verdict: Routine. No surprises, no action required beyond expecting your invoice.
The Bank of England published its policy statement on 8 July 2026 finalising supervisory fees for central counterparties (CCPs) and central securities depositories (CSDs) for the 2026/27 fee year, which runs from 1 March 2026 to 28 February 2027. The Bank received five responses to its consultation and adopted all proposals unchanged.
Who this affects
The policy statement covers all financial market infrastructures (FMIs) that pay supervisory fees to the Bank, including both UK and non-UK CCPs and CSDs. Recognised payment systems and specified service providers are explicitly excluded: their 2026/27 fees will be consulted on separately, once HM Treasury has progressed its work on raising the statutory fee cap for those entities.
The numbers
The total FMI Levy for 2026/27 is budgeted at £18m, up 3% from the £17m budgeted for 2025/26. There was no under- or overspend in 2025/26, so no recovery or rebate adjustment applies this year.
For UK CCPs, three categories reflect systemic significance, with Category 1 carrying the largest share. Category 1 CCPs pay a total of £3.92m, comprising £3.34m in general fees and a £0.58m instalment towards UK CCP rulebook development costs. Category 2 CCPs pay £2.24m in total, made up of £1.91m in general fees and a £0.33m rulebook instalment. The Category 1 CSD general fee is £1.80m; no rulebook instalment applies to CSDs.
Non-UK fees are smaller in scale: Group B CCPs pay £149,070, Group C pays £44,721, and Group D pays a fixed fee of £9,000. Non-UK CSDs in Group A pay £119,000; Group B pays a fixed fee of £6,000.
Rulebook costs
The 2026/27 instalment remains at £1.5m, unchanged from the original schedule. Total rulebook costs are now forecast at £5m against an original £4.5m; the £0.5m excess will be recovered in 2027/28.
Digital Securities Sandbox
The Bank notes it expects to begin levying supervision fees for the Digital Securities Sandbox in the 2026/27 fee year, under a framework set out in a policy statement published on 30 September 2024. Fee levels for DSS participants are set out in the September 2024 policy statement and are not repeated here. Unless you are a DSS participant, this does not affect you.
Sources
- The boes fees regime for fmi supervision for ccps and csds 2026 27bankofengland.co.uk
